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Crypto firms are likely familiar with the mechanics of stablecoins already, a class of crypto-asset meant to track the value of fiat. In fact, on centralized exchanges, the volume of stablecoin transactions rose to 90% from 79% last year, replacing in particular USD-based trading pairs, CFA Conor Ryder noted. Original Source
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According to a post on January 9, e-Money — a stablecoin project in the Cosmos ecosystem — said it would discontinue the issuance of its euro stablecoin EURR effective March 6, 2023. In explaining the decision, e-Money wrote: "The lack of real-world applications for blockchain has led to low demand for
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Alameda owes Voyager approximately $200 million in an outstanding crypto loan, from a line of credit that was worth $377 million before the market downturn. Source
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Those choices have, in turn, led to genuine financial contagion within crypto markets, including tragic rugpulls for a number of startups that had funds custodied with 3AC. More to the point, though, 3AC set the market up for a wave of forced sales of bitcoin, ether (ETH) and similar blue-chip
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Ethereum fees surged to record highs amid the recent crypto downturn, with users paying more than 2,000 gwei to execute transactions at its peak.Digital asset research firm, Delphi Digital, noted gas prices oscillated between 1,500 and 1,700 gwei for approximately one hour as DeFi liquidations drove “gas wars amongst liquidators
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Bitcoin has slid lower as legacy markets have undergone a strong correction over recent days. This was evident
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