Tag Archives: Stablecoins

The popular cryptocurrency data aggregator, CoinGecko, reviewed the events in the digital asset market in Q1 2020. According to the report shared with CryptoPotato, Bitcoin ultimately ended up losing 11% of its value, but some altcoins and stablecoins managed to record gains and decreased BTC’s dominance.  Bitcoin’s Q1 Data The unexpected outbreak of the COVID-19 pandemic put pressure on most financial markets, including cryptocurrencies. With the violent price fluctuations in Q1 2020, most...

The total value transferred on the Ethereum network reached full parity with Bitcoin last week. It’s mainly due to the increasing role of stablecoins in the market as they are responsible for 80% of all transactions on the Ethereum blockchain. Ethereum Network Transfer Value Parity With Bitcoin A publication revealed by Ryan Watkins, a researcher in the cryptocurrency intelligence firm Messari, showcased the comparison in transferred value on Ethereum and Bitcoin. Transferred Value On...

The G20’s Financial Stability Board (FSB) has issued ten recommendations for a common regulation on stablecoins. Their growing usage and volume may undermine financial stability if world governments don’t set up the necessary legislation.FSB’s Recommendations For Stablecoin RegulationReuters reported earlier today the FSB’s intentions to “proportionately” regulate stablecoins. The agency has developed a paper, which it will deliver to G20 finance ministers and central bank governors during a...

The number of circulating Tether (USDT) coins now exceeds 6 billion. Tether, and most stablecoins, have been continuously minting new coins to cope with the growing traders’ demand in times of high volatility and uncertainty in the cryptocurrency market.Over 6B USDT In CirculationThe past month was especially turbulent in terms of volatility, to say the least. Most cryptocurrencies were on the downhill, mainly due to the violent price actions in mid-March. The market tanked by as much as 50%...

Over $1 billion worth of stablecoins is currently stored on certain cryptocurrency exchanges. Such an extensive amount sitting on the sidelines begs the question if traders are simply waiting for a definitive bullish sign to reenter the market.Over $1B Worth Of USDT and USDC On ExchangesAs Cryptopotato reported earlier this month, most stablecoins’ have been increasing drastically in terms of market capitalization. This came during some of the worst trading days for the cryptocurrency market...

So far, the past month had seen some of the worst days in Bitcoin’s price history. Following the emerging coronavirus crisis, Bitcoin plunged from a high of over $10K in mid-February, to a current low of $3,600 reached March 12. Since then, the price had recovered to the $6,000 area, but March is not yet over.The drop affected almost all of the cryptocurrencies and stablecoins were the only ones that saw their market cap increased.Stablecoins’ Growth Amid The Sell-OffsAs the name suggests,...

Blockchain and cryptocurrencies expanded their presence and usage in 2019, says JP Morgan. The giant American multinational investment bank filed a comprehensive report regarding the performance of the technology and digital assets in 2019.Bitcoin AdoptionTwo years after the bank’s CEO, Jamie Dimon regretted calling Bitcoin a “fraud,” JPM issued a 74-page document that involves the largest cryptocurrency. Among the discussed topics, the report outlines Bitcoin’s developments in terms of...

Randal Quarles – the chair of the Financial Stability Board and U.S. Federal Reserve governor – believes that nobody is taking bitcoin and other cryptocurrencies seriously enough, which could potentially bear harsh consequences for the world’s many banks.Randal Quarles – People Need to Wake Up When It Comes to CryptoQuarles points to things like Libra and says that this cryptocurrency and others like it are signs that the financial space has changed extraordinarily over the past year alone....

Today, a news report from Reuters has mentioned, once again, that the blockchain industry continues to develop at an unprecedented speed, and that regulators need to get themselves caught up to speed, or risk behind left behind in the dust.In fact, the report suggests that many of the world’s Central Banks are becoming increasingly worried that the ongoing development of cryptocurrencies and digital assets is threatening the very balance of the current global financial system.Their belief is...

Cryptocurrency regulations are taking a front-row in high-end governmental discussions. Steven Mnuchin, Secretary of the Treasury of the US, noted that FinCEN is working on introducing several new requirements to counter possible illegal financial activities.FinCEN To Apply New RequirementsYesterday, the U.S. Senate held a hearing to cover the 2012 budget. While addressing many different financial issues, the discussion also touched on cryptocurrencies and their role in the U.S. market.The...