Cryptocurrency News
Tether Printer on Overdrive, Minting 1B USDT...
Tether has minted $1 billion in USDT on the TRON network, adding to the billions it has minted during the previous week. Tether has minted $4 billion in USDT in total over the last seven days.
Florida Governor Ron DeSantis has proposed legislation...
Florida Governor Ron DeSantis has stated his support for legislation that would prohibit the use of a Central Bank Digital Currency (CBDC) as legal tender within the state.
Price of Ethereum Underperforms and Turns At...
The price of Ethereum has underperformed and is at risk of a downside break. The report states that Ethereum has been trading in a range between $3,000 and $3,500 since the beginning of March. However, the price has failed to break above the $3,500 resistance level, which is a bearish sign.
Decentralized Exchanges Posted Record $25B Daily Volume...
Decentralized exchanges (DEXs) have been making headlines in the cryptocurrency world recently, with their record-breaking daily trading volumes. In particular, on March 14, 2023, DEXs posted an all-time high of $25 billion in daily trading volume, with the stablecoin USDC experiencing a depegging event.
Bitcoin price nears $25K as analysts place...
Analysts believe that the CPI report, which is scheduled to be released in the coming days, will show a significant increase in inflation. This is due to a combination of factors, including supply chain disruptions, higher energy costs, and increased demand as the economy continues to recover from the COVID-19 pandemic.
DeFi Protocol Curve’s $500M Stablecoin Pool Hammered...
Curve Finance, a decentralized finance (DeFi) protocol, has experienced a significant drop in its USDC stablecoin pool, with traders reportedly fleeing the platform in droves.
Silicon Valley Bank’s Collapse Depegs USDC, Stablecoin...
The USD Coin (USDC) has fallen below $0.90, signaling a sharp depegging from the US dollar, due to Circle's exposure to Silicon Valley Bank, which recently collapsed. Circle confirmed it had $3.3 billion at the bank as it could not withdraw its balances in time. The cryptocurrency exchanges Binance and Coinbase have temporarily halted conversions involving USDC, with Coinbase announcing a pause in conversions of USDC:USD over the weekend. While not as impactful as a Tether (USDT) collapse, the USDC depegging highlights the vulnerability of stablecoins to banking issues. Bitcoin and Ethereum also struggle with selloff pressure near $20,000 and $1,400, respectively.
Elon Musk Shows Interest In Buying The...
Musk's interest in SVB is also a reflection of the growing importance of the tech industry in the financial world. With more and more tech companies entering the financial sector and offering new products and services.
Brazil’s digital real makes its debut on...
The launch of Brazil's digital real is a significant development for the blockchain and cryptocurrency industries. It represents a major step towards the mainstream adoption of digital currencies and could have far-reaching implications for the global financial landscape.