stablecoins

According to reports, more than 120000 Ethereum’s liquid pledge products launched through Frax Finance have been pledged. Currently, a total of about 120960 frxETHs have been issued, with a value of about 217 million dollars. Interpretation of this information: Frax Finance has launched its liquid pledge products on Ethereum with over 120,000 in circulation. The platform provides a stable and decentralized alternative to traditional stablecoins by blending the Collateralized Debt Position (CDP) mechanism of MakerDAO with fractional reserve banking for a more balanced approach. Frax issues fraxSHARES (FXS) and fraxETH…

According to reports, the US Department of Justice has investigated two trading companies, Jump Trading and Jane Street, regarding plans to rescue Terra’s algorithmic stable currency, TerraUSD (USD). Prosecutors are currently investigating group conversations on Telegram from participants from Jane Street and Jump Trading. According to reports, these conversations are about potential aid to TerraUSD. Interpretation of this information: The US Department of Justice has reportedly launched an investigation into two trading companies, Jump Trading and Jane Street, over potential plans to rescue Terra’s algorithm-based stable currency, TerraUSD. The investigation…

It is reported that the US Department of Justice launched an investigation into the collapse of the stable currency Terra USD under the name of Do Kwon, founder of Terraform Labs. The FBI and New York officials have questioned the former Terra members. Interpretation of this information: The news about the US Department of Justice investigating the collapse of Terra USD has stirred up controversies about the stability of stablecoins. The founder of Terraform Labs, Do Kwon, is under the investigation, as reports say that he and his team may…

It is reported that according to Kaiko’s research data, the trading volume of USDC-USD trading pair hit a record high of US $600 million on March 11, with Kraken as the main trading partner. In addition, Aave and Compound received more than US $2 billion in repayment on March 11, most of which were USDC. Interpretation of this information: The recent surge in the trading volume of USDC-USD trading pairs is a clear indication of the growing demand for cryptocurrency trading. According to Kaiko’s research data, the trading volume of…

According to the report, according to CoinGecko data, the price of USDC has rebounded to above US $0.98 and is currently at US $0.987856. DAI prices have also risen to above US $0.98 and are currently at US $0.987856. Interpretation of this information: The message reports an increase in the prices of USDC and DAI, two popular stablecoins. Stablecoins are cryptocurrencies whose value is pegged to an underlying asset, usually a fiat currency like the US dollar, to provide stability and reduce volatility within the crypto market. According to the…

It is reported that according to the reserve report of USDC, Circle holds an undisclosed cash in the Bank of Silicon Valley. The stable currency issuer listed SVB in other U.S. regulatory financial institutions holding the platform’s reserves. Interpretation of this information: The recent reserve report of USDC has revealed that Circle, a stable currency issuer, has stashed an undisclosed amount of cash in the Bank of Silicon Valley. It is one among several other U.S. regulatory financial institutions that hold the platform’s reserves. While the exact amount of cash…

On March 11, it was reported that the proportion of USDT in the 3-pool of the stable currency exchange agreement Curve fell to 1.9%, leaving only 8.3 million, due to the influence of Circle’s announcement that it had $3.3 billion of reserves in the bankrupt bank Silicon Valley Bank. Users chose to exchange USDC and DAI (part of the collateral was USDC) for USDT. At present, the USDC/USDT has dropped to 0.93 in Curve exchange. Interpretation of this information: The message informs about the recent drop of the USDT proportion…

According to the report, according to Whale Alert test data, Circle destroyed 708230654 USDCs in total in the past six hours. Interpretation of this information: The cryptocurrency company Circle has reportedly destroyed over 700 million USDCs (USD Coin) in the past six hours. This is according to test data from Whale Alert, a blockchain tracker that monitors large transactions. The exact reason for this massive destruction of USDCs is unclear. However, it may be related to the company’s efforts to maintain the stability and security of its stablecoin, which is…

On March 8, CZ said in the AMA that the stable currency supported by the legal currency will not exist for a long time, and the stable currency will continue to evolve and iterate. In the long run, stable currencies supported by illegal currencies may dominate in 10 to 20 years. It is expected that this year will be a year of recovery of encryption adjustment, and there is no expectation of setting a new high. Interpretation of this information: The message highlights the thoughts shared by CZ, the CEO…

It is reported that according to PeckShieldAlert monitoring, at 15:03 Beijing time, nearly 49 million USDCs have been transferred from coin security to the address marked as Justin Sun on the chain. Interpretation of this information: The cryptocurrency market has been abuzz with the news of a massive transfer of nearly 49 million USD Coins (USDC) from Coin Security to an address belonging to Justin Sun. It was reported by PeckShieldAlert monitoring service that the transaction took place at 15:03 Beijing time. This sudden transfer has raised speculations about the…

It is reported that the Federal Reserve Chairman Powell said in his testimony at the hearing of the Senate Banking Committee that the Federal Reserve and other U.S. banking regulators have repeatedly issued statements and policy interpretations to issue severe warnings to banks about cryptocurrencies. In the recent warning, regulators clearly pointed out that banks that focus on encryption may not meet the security and soundness standards, which are the benchmark for continuing to operate in the United States. In addition, Powell said that Congress needs to intervene to provide…

On March 7, according to Nansen data, TUSD in Binance’s asset reserves has reached 1.029 billion US dollars, accounting for 1.72% of the total reserves. TUSD ranks 7th, with USDT (26.67%), BTC (18.87%), ETH (11.69%), BUSD (11.1%), USDC (8.94%) and BNB (4.78%) in the top 6. Interpretation of this information: The message above discusses the asset reserves of Binance, a prominent cryptocurrency exchange platform. According to Nansen data, TUSD, or TrueUSD, which is a stablecoin pegged to the US dollar, has reached $1.029 billion in asset reserves, accounting for 1.72%…

On March 7, according to Nansen data, TUSD in Binance’s asset reserves has reached 1.029 billion US dollars, accounting for 1.72% of the total reserves. TUSD ranks 7th, with USDT (26.67%), BTC (18.87%), ETH (11.69%), BUSD (11.1%), USDC (8.94%) and BNB (4.78%) in the top 6. Interpretation of this information: Binance, one of the world’s largest cryptocurrency exchanges, has added another stablecoin to its asset reserves, pushing the total amount of stablecoins in its reserves to over $1 billion. According to Nansen data, TUSD, the stablecoin backed by the U.S….

According to the report, according to the data of Coinsecko, the current total market value of the stable currency is about 136.5 billion US dollars, of which the market value of USDT, USDC and BUSD are respectively 718, 439 and 8.47 billion US dollars, and the market value of USDT accounts for a new high since November 2021. Interpretation of this information: The market value of stablecoins, which are cryptocurrencies designed to maintain a stable value, has reached a total of roughly 136.5 billion US dollars according to data from…

On March 6, it was reported that the encryption trust company GMO-Z.com Trust Company reached a cooperation with Komainu to provide security and compliance institution-level custody services for the yen stable currency GYEN and the dollar stable currency ZUSD. Interpretation of this information: The news that GMO-Z.com Trust Company has partnered with Komainu to provide custody services for the yen stable currency GYEN and the dollar stable currency ZUSD, underscores the growing importance of stablecoins in the cryptocurrency industry. GMO-Z.com Trust Company, which is a subsidiary of Japan-based GMO Internet,…

According to reports, Andrew T, an analyst at Nansen, said on the social platform that more than US $6 billion of BUSD has been destroyed in the past 30 days, which is equivalent to the top 20 cryptocurrency in market value. At present, there are still US $11 billion of BUSD in circulation, of which about US $9.7 billion is deposited in Binance. Interpretation of this information: The recent report reveals that the stable coin, BUSD, has lost over $6 billion in the past 30 days. This loss is equivalent…

According to the report, according to the data of Coinsecko, the current market share of Bitcoin is temporarily at 40.18%, with a weekly decline of 0.43%; The share of Ethereum was 17.41%, with a weekly increase of 0.02%; The market value of USDT, USDC and BUSD are 6.36%, 3.83% and 1% respectively. The total market value of cryptocurrency across the network is $1105456639477. Interpretation of this information: The message provides an update on the current market share of Bitcoin and other cryptocurrencies. According to Coinsecko data, Bitcoin’s market share has…

It is reported that according to Whale Alert monitoring data, 80 million USDCs have been transferred from USDC Treasury to Crypto.com. Interpretation of this information: The message reports that Whale Alert monitoring data shows a transfer of 80 million USDCs from USDC Treasury to Crypto.com. USDCs or USD Coin is a stablecoin that is pegged to the US dollar, providing users with a way to store their assets in a cryptocurrency that maintains a stable value. Crypto.com is a well-known cryptocurrency exchange that offers a range of services, including trading,…

On February 22, Nansen data showed that among the current reserves of nearly $3.372 billion, the proportion of USDC rose to 55.78%, about 1.877 billion; However, the reserve of BUSD in Coin Anzhong is only 57.3263 million. Interpretation of this information: The message highlights the recent development in the cryptocurrency market where Nansen data shows that the USDC has emerged as the top choice for reserve funds among different cryptocurrencies. As per the report, the current reserves of $3.372 billion have a 55.78% share of USDC, which amounts to approximately…

It is reported that Lookonchain posted on social media that Bitcoin and Ethereum rose today. The data on the chain showed that several funds/institutions have invested nearly 1.6 billion dollars in the encryption market since February 10. During this period, the funds/institutions withdrew 1.6 billion dollars of USDC from Circle, but only deposited about 200 million dollars of USDC, The analysis shows that institutional investors did not stop injecting capital into the encryption market because of the decline of Bitcoin and Ethereum in the early stage. Interpretation of this information:…