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In addition to Uniswap V3 positions, Unbound is also expanding collateral support to LP tokens of relatively volatile asset pools, such as WETH-DAI. The version 2, however, will introduce price stability mechanisms (PSMs) that automatically liquidate or redeem loaned positions to ensure UND’s value remains stable and closely aligned with
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The stablecoin’s recent popularity comes after Binance, the world’s largest crypto exchange by trading volume, picked TUSD as a favored stablecoin trading pair on its platform amid a regulatory crackdown on its namesake Binance USD (BUSD). New York regulators ordered BUSD issuer Paxos, a fintech firm based in the state,
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USDC, the key stablecoin in decentralized finance, temporarily lost its dollar peg earlier this month after the collapse of its key banking partner. Source
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Rival stablecoin tether (USDT) has grown to its most dominant since May 2021, now representing 60% of all stablecoins in circulation. Source
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BUSD, however, has shown signs of resilience despite the turbulence. The token has maintained its peg, seen only slightly above-average outflows of over $500 million and there have been no unforeseen incidents concerning BUSD that have taken place on BNB chain-based decentralized finance applications, in which the stablecoin plays a
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After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99
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Glassnode data on Mar. 26 shows that the stablecoin supply on exchanges has more than halved to less than $24b in four months. Stablecoin supply on exchanges dropping In November, stablecoin supply on exchanges stood at over $44b. Still, this figure, triggered by several fundamental factors, including regulatory actions, has been contracting over the
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According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57
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The decision follows a turbulent period during which USDC temporarily lost its dollar peg when key banking partner SVB collapsed. Source
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The BTC-TUSD trading volume had recently grown tenfold compared to Tuesday, Dustin Teander, an analyst at crypto research firm Messari, said in an email. However, the asset pair’s $50 million spot trading volume in the past 24 hours is dwarfed by the dominant stablecoin USDT’s $6 billion and BUSD’s $1
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