Cryptocurrency Analysis and News Portal
Sign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context.DISCLOSUREPlease note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money,
Read More
Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 mark.On March 9, Circle had initiated a wire transfer for
Read More
An undisclosed portion of USDC’s cash reserves are parked at the now-failed bank, leading to concern that money backing the stablecoin is now stuck. Stablecoins like USDC are a key part of the crypto industry’s foundation, and when they stray far from $1 (or whatever fiat asset they’re pegged to)
Read More
"Essentially, by halting issuance of BUSD, there is no way for the stablecoin to grow. BUSD trading pairs will still be supported by Binance, but traders will gradually start to migrate to other stablecoins, which could be causing the discount on BUSD," Kaiko's research director, Clara Medalie, told CryptoX. Source
Read More
TRX fell nearly 8% in the past 24 hours, data shows. The price is above a support level of 5 cents, and if it drops below, the tokens could slip to as low as 3 cents, price charts show. Huobi’s native HT exchange tokens have lost as much as 11%
Read More
Sasha Ivanov, founder and CEO of the Waves blockchain platform, is planning to launch a new stablecoin amid the ongoing crisis of the Waves-backed stablecoin, Neutrino USD (USDN).Ivanov took to Twitter on Dec. 20 to announce the USDN situation resolution plan alongside a new stablecoin project.“I will launch a new
Read More
2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports say
Read More
Magic Internet Money (MIM), a US dollar-pegged stablecoin of the Abracadabra ecosystem, joins the growing list of tokens losing their $1 value amid an untimely crypto winter. The sudden de-pegging of the MIM token commenced roughly on June 17, 7:40 pm ET, which saw the token’s price drop to $0.926
Read More