Auto Added by WPeMatico

Stablecoin Market Sees PYUSD Supply Swell While USDE Shrinks With Redemptions

Over the past 12 days, the stablecoin economy has maintained a similar value, yet the supply of dollar-pegged crypto assets PYUSD and USDE has experienced notable shifts. Over the last…

Continue ReadingStablecoin Market Sees PYUSD Supply Swell While USDE Shrinks With Redemptions

Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions 

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…

Continue ReadingTether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions 

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31

While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023.…

Continue ReadingTether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31

Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations

It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the…

Continue ReadingRedemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations

BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues

According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since…

Continue ReadingBUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues