Stablecoin – BuyCrypto.Link https://buycrypto.link Easy Crypto Buying Mon, 15 Jul 2024 03:06:32 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 SEC, PayPal’s Stablecoin, and State-Backed Tokens: Key Updates Investors Need to Know https://buycrypto.link/sec-paypals-stablecoin-and-state-backed-tokens-key-updates-investors-need-to-know/ Mon, 15 Jul 2024 03:06:32 +0000 https://buycrypto.link/sec-paypals-stablecoin-and-state-backed-tokens-key-updates-investors-need-to-know/

The SEC faces legal challenges, PayPal’s stablecoin grows with Solana integration, and state-backed stablecoins gain momentum.


Here are some headlines crypto investors may have missed.


SEC Faces Legal Hurdles in Stablecoin Regulation


Binance and CZ have pleaded guilty to unlawful activities, paid billions in fines, and face huge legal hurdles, but the SEC just suffered a legal setback in its Binance efforts. The SEC closed its inquiry into Binance USD stablecoin issuer Paxos without recommending enforcement.


Paxos should celebrate the lack of enforcement action, but it may potentially affect crypto regulation.



Stablecoins will benefit as the SEC faces more legal battles to designate the whole crypto sector as securities.



Since these cryptoassets, almost all of which are backed 1:1 by the USD, were designed to be used as a medium of exchange rather than an investment vehicle, these setbacks may allow for more objective discussions.



PayPal’s PYUSD Gains Traction with Solana Integration


PayPal’s stablecoin initiatives have persisted after a low-profile launch and an SEC probe. Forbes reports that recent integration with the Solana blockchain has increased the token’s market cap to above $500 million. DeFillama data suggests that Ethereum’s supply is $399 million, 77% of the total supply, with the rest on Solana.



Solana supply jumped 58% in the first week of integration, while Ethereum supply dropped 6%.


Given PYUSD’s consumer name familiarity and Solana integration’s rise, PayPal and PYUSD appear poised for continued expansion and use.


Wyoming’s State-Backed Stablecoin WYST Makes Waves


Minting of the state-backed token began in May 2024 after some pushback and legislative issues. The 1:1 U.S. dollar-backed token will commence circulation in 2024 under the ticker WYST.


Senate Enrolled Act 85: Wyoming Stable Token Act authorized the Stablecoin Commission to create the first U.S. state-backed stablecoin. The Ethereum-based WYST will only be exchanged on centralized exchanges like Coinbase.



While it is too early to judge how successful or widespread WYST will be, the fact that one state has gone so far so rapidly shows how popular stablecoins are.


Stablecoins are here to stay and are vital to TradFi, centralized exchanges, DEX, and crypto investors of all sizes.

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]]> The stablecoin PYUSD di PayPal sta arrivando su Solana https://buycrypto.link/the-stablecoin-pyusd-di-paypal-sta-arrivando-su-solana/ Thu, 30 May 2024 01:37:45 +0000 https://buycrypto.link/the-stablecoin-pyusd-di-paypal-sta-arrivando-su-solana/

PayPal, one of the global giants in payments, recently announced that its stablecoin PYUSD will soon be available on the Solana blockchain, almost a year after its debut on the Ethereum blockchain.

Questo lancio potrebbe segnare un punto di svolta significativo per PYUSD, una criptovaluta che finora non è riuscita a catturare l’interesse del mercato nonostante il suo supporto di marca.

The stablecoin of Payapal  PYUSD on Ethereum and the choice of Solana 

When PYUSD was launched on Ethereum, it was expected that PayPal’s reputation could confer a certain security and trust to investors in the cryptocurrency market. 

However, the expected success did not materialize. Currently, PYUSD has about 8,600 holders on Ethereum and a market capitalization slightly below $400,000. These numbers are tiny compared to the giants of stablecoins like Circle’s USDC and Tether’s USDT, which dominate the market with market capitalizations of billions of dollars and millions of holders.

The transfer of PYUSD to Solana is a strategic move that could provide several advantages. Solana is known for its high performance, with very fast transaction speeds and extremely low transaction costs compared to Ethereum. 

Questo potrebbe rendere PYUSD più attraente per gli utenti che cercano una stablecoin efficiente per le transazioni quotidiane e le applicazioni decentralizzate (dApp).

Furthermore, Solana has gained popularity as the blockchain of choice for many developers and DeFi (Decentralized Finance) projects, thanks to its scalability and low fees. The integration of PYUSD into this vibrant ecosystem could stimulate greater use of the stablecoin, expanding its adoption.

Potential benefits for PYUSD

Il lancio su Solana potrebbe portare diversi benefici a PYUSD:

  1. Better Scalability: Solana is capable of handling a high number of transactions per second (TPS), much higher than Ethereum. This scalability could support a more widespread use of PYUSD without the bottlenecks that often plague Ethereum during periods of high demand.
  2. Reduced Transaction Costs: One of the major criticisms of Ethereum is the high gas fees. Solana offers much lower fees, making PYUSD more convenient for frequent and small amount transactions.
  3. Access to a New Market: Solana has a rapidly growing community of users and developers. Being present on this blockchain could expose PYUSD to new users who might not have considered the stablecoin on Ethereum.
  4. Integration with dApp: Solana hosts numerous innovative decentralized applications. PYUSD could be integrated into these dApp, increasing its usage and relevance in the DeFi ecosystem.
Despite the potential benefits, PYUSD must face some significant challenges to become a prominent stablecoin. The competition with USDC and USDT remains intense. These stablecoins have built strong trust among users and are widely used in the crypto world.

Moreover, the stability and security of Solana have been questioned in the past due to various incidents of downtime and attacks. PayPal will need to ensure that PYUSD maintains its integrity and security on the new blockchain to avoid trust issues among users.

Conclusions

The launch of PYUSD on Solana represents a bold move by PayPal to relaunch its stablecoin and capture a larger share of the cryptocurrency market. If PayPal manages to leverage the advantages of Solana, such as scalability and low transaction costs, PYUSD could see a significant increase in adoption and usage.

However, the road to success is not guaranteed. PYUSD will have to face the tough competition of established stablecoins and prove that it can offer added value to users and developers in the crypto ecosystem. Only time will tell if this strategic move will bring PYUSD the hoped-for success or if it will remain a niche cryptocurrency in the vast landscape of cryptocurrencies.

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#stablecoin #PYUSD #PayPal #sta #arrivando #Solana

]]> These three Solana protocols offer yields of 24% or higher on stablecoin deposits – DL News https://buycrypto.link/these-three-solana-protocols-offer-yields-of-24-or-higher-on-stablecoin-deposits-dl-news/ Fri, 08 Mar 2024 01:24:25 +0000 https://buycrypto.link/these-three-solana-protocols-offer-yields-of-24-or-higher-on-stablecoin-deposits-dl-news/

  • Solend, marginfi, and Kamino offer annual yields of 39%, 35%, and 24% on USDC deposits, respectively.
  • Utilisation rates on USDC pools are relatively high, likely because of the demand for leverage and points farming.
As traders on Solana capitalise on its dramatic price increase or the meteoric rise in memecoin trading, other users are quietly earning double-digit yields from some of the blockchain’s top lending platforms.

Solend, marginfi, and Kamino offer users an annual percentage yield on USDC deposits of 39%, 35%, and 24%, respectively.

USDC is a stablecoin pegged to the US dollar. It is fully backed by US dollar and dollar-denominated assets.

Lending protocols let users deposit assets in a liquidity pool for other users to borrow. Borrowers pay depositors a fee, which fluctuates depending on the utilisation rate. The rate is determined by how much of the assets deposited in a liquidity pool is borrowed.

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If 100 USDC is deposited and 90 USDC is borrowed, the utilisation rate — and ultimately the borrow rate — will be higher than if that same pool had 100 USDC deposited and 10 USDC borrowed.

The utilisation rate for the USDC market on marginfi is now 86%, which is relatively high, resulting in the 35% yield it offers.

Generally, lending protocols experience rising rates when demand for leverage increases. If a user wants to leverage their assets, they can take their assets like SOL, deposit them on a lending protocol and borrow an asset like a stablecoin against it.

This allows the trader to maintain exposure to the deposited asset, in this case, SOL, while borrowing a stablecoin to then use elsewhere.

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Meanwhile, marginfi and Kamino are also running point campaigns.

Points are given out by protocols to incentivize users to interact with their protocol and usually convert to a token at a later date.

In the case of marginfi and Kamino, points are given to users based on the dollar value of their deposits and borrows they generate per day.

The demand for leverage and points continues to have a dramatic impact on the yields offered by these protocols.

Got a tip about DeFi? Reach out at ryan@dlnews.com.

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#Solana #protocols #offer #yields #higher #stablecoin #deposits #News

]]> Stablecoin Economic system Jumps 3.5% in 2 Weeks to $167 Billion, Fiat-Pegged Tokens Command Over 60% of Crypto Trades – Altcoins Bitcoin Information https://buycrypto.link/stablecoin-economic-system-jumps-3-5-in-2-weeks-to-167-billion-fiat-pegged-tokens-command-over-60-of-crypto-trades-altcoins-bitcoin-information/ Sat, 25 Dec 2021 23:52:32 +0000 https://buycrypto.link/stablecoin-economy-jumps-3-5-in-2-weeks-to-167-billion-fiat-pegged-tokens-command-over-60-of-crypto-trades-altcoins-bitcoin-news/

Stablecoin Growth Jumps 3.5% in 2 Weeks to $167 Billion, Fiat-Pegged Tokens Command Over 60% of Crypto Trades
Since December 8, the stablecoin economic system has grown 3.59% in 17 days as quite a few stablecoin market valuations have issued extra fiat-pegged tokens this month. On Saturday, December 25, the stablecoin economic system’s $167 billion market valuation represents 6.68% of the whole $2.49 trillion crypto market economic system.

Stablecoin Issuance Jumps 3.5%

There’s a large number of stablecoins in existence at present which are pegged to the worth of fiat currencies just like the U.S. greenback. The U.S. greenback is the commonest stablecoin peg at present, however there are others that characterize the euro and the Swiss franc. On Saturday, the whole worth of all of the stablecoins in existence is $167 billion, up 3.59% since our newsdesk’s final stablecoin report. Essentially the most dominant stablecoin at present is tether (USDT) with a market valuation of round $77.7 billion unfold throughout varied blockchains.

Stablecoin Economy Jumps 3.5% in 2 Weeks to $167 Billion, Fiat-Pegged Tokens Command Over 60% of Crypto Trades
High ten stablecoins by market valuation on December 25, 2021.
Tether’s sizable market capitalization is 46.52% of the whole stablecoin economic system at present. Usd coin (USDC) is the second largest stablecoin when it comes to market capitalization with $42.4 billion. Whereas USDT elevated 5.7% over the last month, USDC climbed 14% over the last 30 days. The third, fourth and fifth largest stablecoin market valuations belong to BUSD, UST, and DAI respectively. BUSD’s $14.8 billion market cap elevated by 14.6% over the last month and UST’s issuance jumped by 36.6%.

60% of Right now’s Trades Are Paired With Stablecoins

The Makerdao-issued stablecoin DAI elevated by 2.9% this previous month with a valuation of round $8.9 billion. Terra Protocol’s UST stablecoin is 9.18% bigger with a valuation of round $9.8 billion on the time of writing. MIM, FRAX, and FEI noticed notable issuance will increase as properly with anyplace between 15.6% to 42.4% over the last month. The stablecoin origin greenback (OUSD) spiked greater than 102% during the last 30 days and SUSD jumped 38.7%.

On Saturday, the stablecoin economic system instructions $55.4 billion in commerce quantity out of the combination $92.1 billion reported quantity. This implies with each commerce at present, 60.15% of the trades are paired with stablecoins. As an example, the main crypto asset when it comes to market valuation, bitcoin (BTC), has seen round 59.68% of at present’s swaps with tether (USDT). The second main crypto asset, ethereum (ETH), has comparable metrics as 51.45% of all ether swaps are with tether as properly.

Tags on this story
BUSD, CoinGecko, Cryptocompare, DAI, Fiat Tokens, Fiat-Pegged, FRAX, GUSD, Stablecoin, Stablecoin Caps, stablecoin trades, Stablecoin Buying and selling, Stablecoin Volumes, Stablecoins, SUSD, Tether, Tether (USDT), commerce quantity, tusd, USDC, USDT
What do you concentrate on the stablecoin market valuation over the last 17 days swelling round 3.59%? Tell us what you concentrate on this topic within the feedback part under.

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Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising at present.

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]]> Prime cryptocurrency costs as we speak: Bitcoin, Ethereum, Polkadot bleed as much as 9% https://buycrypto.link/prime-cryptocurrency-costs-as-we-speak-bitcoin-ethereum-polkadot-bleed-as-much-as-9/ Tue, 14 Dec 2021 05:29:57 +0000 https://buycrypto.link/top-cryptocurrency-prices-today-bitcoin-ethereum-polkadot-bleed-up-to-9/

New Delhi: The cryptocurrency market prolonged its losses on Tuesday forward of the much-awaited US Fed assembly as buyers sought indicators for tapering and price hikes.

As many as six out of the highest 10 digital tokens had been buying and selling decrease at 9.30 IST. Terra and Polkadot had been holding gentle features whereas Cardano shed 6 per cent.

The worldwide crypto market cap declined greater than 5 per cent to $2.13 trillion mark in comparison with the final day. Nonetheless, the entire crypto market quantity soared as a lot as 38 per cent to $97.03 billion.



Cryptocurrency merchandise and funds posted internet inflows of $88 million final week, information from digital asset supervisor CoinShares confirmed on Monday, amid a combined funding flows image in every week that noticed a drop in costs.

The crypto market took a large hit over the previous 24 hours after a revenue reserving session, mentioned Edul Patel, CEO and Co-founder of Mudrex. “Whole traded volumes jumped greater than 40% as merchants rushed for canopy. Over the approaching 24 hours, we will count on the market to stay risky,” he added.

What’s cooking in India
Indian crypto buyers are turning in the direction of stablecoins which might be pegged to real-world currencies just like the US greenback as a hedge in opposition to rising volatility in Bitcoin and different altcoins like Ethereum, Solano, Polkadot, and Shiba Inu, even because the Indian authorities strikes to manage or ban crypto belongings.

Skilled Take
Forward of the Fed’s assembly to determine on its financial stance, markets have taken a significant tumble. It appears many are pricing within the potential winding down of bond purchases and the graduation of price hikes beginning subsequent yr and are lowering their publicity to threat belongings accordingly, mentioned CoinDCX Analysis Staff.

“Coupled with this, the continuing debt disaster in China and Europe, in addition to the surplus ‘fats’ prevailing in international asset valuations, a bear market might very a lot be on the horizon. Calculated threat administration is essential at this juncture and leverage ought to usually be averted” it added.

World updates
Financial institution of England Governor Andrew Bailey warned banks and different regulated monetary corporations on Monday that they need to be “particularly cautious” about holding risky crypto belongings till regulators put new guidelines in place.

Additionally, Abu Dhabi state fund Mubadala has invested within the ecosystem round cryptocurrencies, akin to block-chain know-how, given the rise within the digital foreign money’s market worth, its CEO Khaldoon al-Mubarak instructed CNBC.

The Singapore affiliate of Binance, one of many world’s largest cryptocurrency exchanges, mentioned on Monday it’s going to withdraw its native license utility and wind down its digital fee token enterprise within the broadly crypto-friendly city-state.

Tech View by Giottus Cryptocurrency Change
Bitcoin has mounted limits on the variety of transactions it accommodates per block in its blockchain. Consequently, it has confronted a number of scalability points – by way of transaction occasions and costs. At peak community congestion, customers needed to wait days (and pay charges to the tune of $60) for his or her transactions.

Failure to reach at a consensus to repair these points led to the beginning of Bitcoin Money, a fork of Bitcoin in August 2017, with the next block measurement to allow cheaper transactions. Bitcoin Money (BCH) began off effectively in 2021, rising to $1,500 by Might from beneath $300.

Chart-BCHET CONTRIBUTORS
It has corrected closely and is now buying and selling across the $400-450 vary. It has fashioned a number of bear flags since November and is presently on the backside of a parallel channel the place it has discovered assist. If one other bear flag performs out, BCH might see a drop to the low $300s. Nonetheless, it ought to discover some assist at $380 and $340.

On the upside, BCH might want to deal with the Fibonacci retracements of its current rise at $440 and $464. These, nevertheless, are minor resistances, and BCH could transfer shortly to get better the vector candle (excessive quantity candles) of its current crash. Such a transfer ought to take it to $490 and attainable $515, contingent on Bitcoin remaining optimistic.

Main Ranges
Assist: $420, $380, $340

Resistance: $440, $464

Time is in UTC and the each day timeframe is 12:00 AM – 12:00 PM UTC

(Views and suggestions given on this part are the analysts’ personal and don’t characterize these of ETMarkets.com. Please seek the advice of your monetary adviser earlier than taking any place within the asset/s talked about.)

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