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Tag Archives: usdc

BitGo Introduces USDS Stablecoin, Aiming to Shift Market Dynamics

Palo Alto-based crypto custody firm BitGo has launched a new stablecoin, USDS, that is set to go live in January 2025. The company says the stablecoin will be fully backed by U.S. dollars through a mix of short-term Treasury bills, overnight repos, and cash in a bid to ensure liquidity and minimize risk. New Approach to Stablecoin Rewards According to a September 18 statement from BitGo, its proposed offering will differ from existing dominant stablecoins like Tether (USDT)...

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New Money Preparing to Buy the Dip? Tether and Dai Wallet Creations Suggest So

The Tether network quietly achieved a 5-month high in new wallet creation, surpassing 31.3K addresses in a single day, and the highest since March 2024. This surge has coincided with rising network growth in Multi Collateral Dai, indicating a broader trend across stablecoins. According to Santiment’s analysis, 732 new DAI wallets were created, representing the fourth-highest figure since March 2024. Interestingly, the timing of these new wallets, emerging after a market...

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Stablecoins Hit Record Market Cap of Nearly $170 Billion After Year of Growth

Stablecoins have reached an all-time high market cap of $169.57 billion following nearly a year of uninterrupted growth. Leading assets such as Tether’s USDT and Circle’s USDC have seen a significant resurgence this year, in addition to a newcomer. Stablecoin Market Cap Surge Data compiled by DefiLlama revealed that this is the highest market cap for stablecoins, surpassing the previous peak of $167 billion established in March 2022, which later declined to $135 billion by...

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