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From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span of 140 days. Stablecoins Experience a Significant Shift As per the latest data, the stablecoin economy has [...]
The post Stablecoin Economy Shrinks by $7.3 Billion in 2023, USDC and BUSD Record Mass Redemptions appeared first on Crypto Breaking News.
On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several stablecoins, including tether and BUSD, sold at premiums. Tether reached a high of $1.04 per unit and [...]
The post Stablecoin Trading Dominates Monday’s Crypto Market, Tether and BUSD Sell at Premiums appeared first on Crypto Breaking News.
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In the span of just 12 days, the market cap of the artificial intelligence (AI) cryptocurrency sector has risen from $6.08 billion to its present valuation of $7.15 billion. This growth is primarily attributed to the impressive performance of bittensor (TAO), which saw a notable increase of 31.6% against the U.S. dollar in the past [...]
The post AI Crypto Market Cap Leaps $1.07 Billion in 12 Days Led by Bittensors Rise appeared first on Crypto Breaking News.
Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is [...]
The post Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction appeared first on Crypto Breaking News.
During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed. Stablecoin Depegging Event Triggers Billions in Redemptions The stablecoin landscape [...]
The post Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation appeared first on Crypto Breaking News.
Since July 12, 2023, the cryptocurrency market has expanded by a staggering $60 billion within a mere 48 hours. The majority of this growth transpired after the decisive Ripple Labs case verdict, resulting in bitcoin’s dominance dipping from 50% to its present level of 48.6%. Ripple Labs Case Verdict Triggers $60 Billion Crypto Market Expansion [...]
The post XRP’s Rise Causes Ripple of Gains in Crypto Economy appeared first on Crypto Breaking News.
The U.S. Bureau of Labor Statistics’ consumer price index (CPI) report, released on Tuesday, reveals that inflation in the United States has eased to a yearly rate of 4%. The latest development arrives just ahead of the upcoming Federal Open Market Committee (FOMC) meeting scheduled for June 14. The prevailing market sentiment leans towards the [...]
The post US Inflation Cools to 4% Annual Rate, Setting Stage for Fed’s Decision on Interest Rates appeared first on Crypto Breaking News.
Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433 million shy of reaching its all-time high (ATH) set on May 8, 2022. Stablecoin [...]
The post Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions appeared first on Crypto Breaking News.
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Bitdeer Technologies Holdings, a digital mining firm founded by crypto-billionaire Jihan Wu in 2018, plans to be listed on Nasdaq this Friday. The bitcoin mining firm is scheduled to go public through a special purpose acquisition company (SPAC) deal with Blue Safari
The post Bitcoin Miner Bitdeer Technologies to List on Nasdaq via SPAC Deal appeared first on BTC Ethereum Crypto Currency Blog.
The crypto winter inflicted a brutal toll on the digital currency landscape, leaving numerous coins with values utterly obliterated. Within this ravaged financial terrain, one specific category — rebase tokens — suffered a tremendous deflation in worth over the previous 20 months. In a stark illustration of this downturn, the total value of the leading [...]
The post Rebase Tokens: A Stunning Collapse From $8 Billion to $351 Million in 20 Months appeared first on Crypto Breaking News.
The Ethereum blockchain is set to undergo its next major update since the network switched from proof-of-work to proof-of-stake through The Merge. The upcoming upgrade, dubbed “Shapella,” which combines the Shanghai and Capella validator changes, is expected to take place on April 12, 2023. While most users will not be affected by the change, the
The post Ethereum’s Shapella Upgrade to Enable Staking Withdrawals Set to Go Live on April 12 appeared first on BTC Ethereum Crypto Currency Blog.
The most recent data from the Bureau of Labor Statistics reveals a growingly intricate inflationary scenario for the U.S. economy. Disclosed on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) exhibited a 3.2% annual increase in July, primarily propelled by housing expenses. This monthly surge aligns with June’s 0.2% escalation, where food costs [...]
The post US Inflation Climbs to 3.2% in July, Stoking Concerns and Dividing Market Opinions appeared first on Crypto Breaking News.
The market capitalization of the stablecoin economy on July 2, 2023, has fallen below the $129 billion mark to the current $128.21 billion, according to statistics. Just over $2 billion in stablecoins have been withdrawn from the stablecoin token economy since May 28. Stablecoin Economy Faces Contraction as Market Capitalization Dips Below $129 Billion The [...]
The post Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June appeared first on Crypto Breaking News.
As bitcoin dipped below the $29K threshold and the overall crypto economy experienced a 1.4% decrease to $1.17 trillion, cryptocurrency derivatives markets underwent $92 million in liquidations, primarily in long positions. Cascading Effect: Bitcoin’s Fall Under $29K Sparks $92 Million in Liquidations The crypto economy, along with a significant number of digital assets, faced a [...]
The post Bitcoin’s Plunge Below $29K Triggers $92 Million in Derivatives Liquidations; Crypto Markets Tremble appeared first on Crypto Breaking News.
According to statistics, 4,498 blocks have been mined in the last 30 days, creating 28,112 new bitcoins over the past month. Bitcoin’s network hashrate has been around 341 exahash per second (EH/s) during the last 2,016 blocks or the last two weeks. This month, the mining pools Foundry USA and Antpool dominated the pack, accounting [...]
The post March Bitcoin Mining Stats Show Climbing Revenue and Hashrate Highs appeared first on Crypto Breaking News.
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