AUSD Stablecoin Now Integrated with Sui Network

AUSD stablecoin launches on Sui, enhancing the network's utility, accessibility, and interoperability, according to The Sui Blog. (Read More)

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Binance Introduces Fixed Rate Loans for Stablecoin Borrowing

Binance Loans launches Fixed Rate Loans, offering users predictable rates for stablecoin borrowing and lending. Learn more about this new financial service. (Read More)

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Japans major banks back new stablecoin project for global trade

Project Pax, backed by Japans top banks, seeks to streamline cross-border transactions using stablecoins, addressing inefficiencies identified by the G20.

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DWF Labs reveals overcollaterized synthetic stablecoin backed by Bitcoin and Ethereum

Prominent crypto market maker DWF Labs has finalized the design of its synthetic stablecoin which would be backed by a mix of digital assets, including Bitcoin and Ethereum. In a Sept. 5 post on X (formerly Twitter), DWF Labs co-founder Andrei Grachev revealed that the synthetic stablecoin would be overcollateralized and backed with fiat stablecoins […]

The post DWF Labs reveals ‘overcollaterized’ synthetic stablecoin backed by Bitcoin and Ethereum appeared first on CryptoSlate.

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Low exchange stablecoin ratio hints at strong Bitcoin demand

The exchange stablecoin ratio measures the balance between stablecoins held on exchanges and Bitcoin. When this ratio drops sharply, it usually signals a reduction in the amount of stablecoins available on exchanges compared to Bitcoin reserves. It often reflects growing demand for Bitcoin, as traders either convert stablecoins into BTC or withdraw them from exchanges […]

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Robinhood VP quashes stablecoin launch rumors

Robinhood Crypto Vice President and General Manager Johann Kerbrat put an end to recent rumors that the fintech giant has plans to launch its own stablecoin. Kerbrat told Decrypt in an interview on Sept. 30 that Robinhood has no active plans to explore the development of a stablecoin. Kerbrat said: “At this point, we don’t […]

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Evaluating USDT and USDC in 2024: Which Provides Better Stability?

Introduction Imagine navigating the turbulent seas of cryptocurrency without a reliable anchor. In a market notorious for its volatility, stablecoins have emerged as the essential lifeline for investors seeking stability and liquidity. Among these, Tether (USDT) and USD Coin (USDC) continue to dominate the landscape in 2024. But with evolving regulations, market dynamics, and technological […]

The post Evaluating USDT and USDC in 2024: Which Provides Better Stability? appeared first on Coindoo.

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Aave, Sky float partnership to bridge DeFi, TradFi

The plan would create markets for DAI-replacement USDS on Aave.

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Analyst Backs Bitcoin Hitting $290,000 In Bull Run Heres Why

In what has been an unusual September, Bitcoin (BTC) has now recorded another positive weekly performance.  According to data from CoinMarketCap, the maiden cryptocurrency surged by 5.07% in the last seven days, moving its cumulative gain in this month to 11.30%. Interestingly, with Bitcoin halving since gone, analysts remain highly expectant of the traditional market bull run by the largest digital asset. Related Reading: Heres Who Has Been Driving The Bitcoin Price Recovery Above $65,000 BTC In Consolidation As It Gathers Momentum For Breakout In an X post on Friday, popular analyst Crypto Rover predicted BTC will hit a $290,000 price mark in the upcoming bull run. Interestingly, this price projection tallies with previous statements from analysts who put a six-figure price target for BTC following the introduction of the Bitcoin spot ETFs which represents an increased institutional demand for the crypto market leader. Notably, BTC has been moving between $55,000 – $70,000 over the last seven months which represents a state of consolidation.  According to Crypto Rover,  following a breakout from this current sideways movement, Bitcoin is likely to enter the banana zone i.e. the phase of outrageous price growth, as seen in previous bull cycles.     The crypto analyst predicts that during this period which traditionally lasts for 12-18 months, BTC could trade as high as $290,000 representing a 339.39% gain on the assets current price. For many crypto enthusiasts, it is likely that the much-anticipated breakout will occur in the fast-approaching weeks as Bitcoin has now formed an inverse head and shoulders pattern as highlighted by Crypto Rover in another post. To explain, the inverse head and shoulders pattern is a common bullish indicator of potential reversals of a downtrend. If the price breaks above the neckline with significant volume, it indicates a shift to bullish control. These sentiments on a price breakout are further strengthened by the upcoming Q4 which has proven to be the most bullish period for Bitcoin with an average gain of 88% over the last 11 years.   Related Reading: MicroStrategys Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317% Bitcoin Exchange Stablecoins Ratio Shows Bullish Signal In more positive news for the Bitcoin community, the Bitcoin Exchange Stablecoin Ratio is currently indicating a buy signal. According to CryptoQuant analyst with username EgyHash, this metric which measures BTC reserves (in USD) to the combined stablecoin reserves on exchange is currently at the low levels seen at the start of 2024. EgyHash explains that a low ratio indicates traders have an increased buying power due to high stablecoin holdings which could translate into investments in Bitcoin, thus resulting in a price gain. Therefore, the current low Bitcoin Exchange Ratio adds to the list of bullish signals for Bitcoin investors. At the time of writing, the premier cryptocurrency continues to trade at $66,064 with a 1.14% gain in the last day. Meanwhile, Bitcoins daily trading volume is down by 12.92% and valued at $32.01 billion.  Featured image from Cwallet, chart from Tradingview

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Ethereum Adoption Leans on These 2 Pillars but Future Growth Still Uncertain: Report

Despite Ethereum's successes, there is uncertainty around its future growth, with the path for new decentralized applications unclear.

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Bitcoin targets $70K as stablecoin inflows and China stimulus boost rally

Bitcoin has surged past $65,000, boosted by Chinas stimulus measures and stablecoin inflows.

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Canada crypto exchanges get more time for stablecoin compliance

Crypto platforms in Canada are having trouble preparing for new stablecoin regulations. Take your time, the Canadian Securities Administrators said.

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Feds dovish move will slash $625M in interest income for stablecoins

CCData estimates stablecoins will lose approximately $625 million in interest income for each 50-basis point cut. Further cuts in 2024 could reduce annual revenue by as much as $1.5 billion.

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Bolivia reports 100% rise in virtual asset trading

Bolivia saw a 100% increase in trading volumes of virtual assets between July and September. The increased volume comes after Banco Central de Bolivia lifted a long ban on Bitcoin. Bolivia’s central bank lifted the ban in June this year. Bolivia has reportedly recorded a 100% surge in virtual asset trading, a few months after […]

The post Bolivia reports 100% rise in virtual asset trading appeared first on CoinJournal.

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BNB Chain Enhances Stablecoin Use with New Incentive Programs

BNB Chain introduces innovative programs to boost stablecoin integration and adoption, aiming to onboard the next billion Web3 users. (Read More)

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Crypto-Friendly Robinhood Reportedly Considering Issuing A Native Stablecoin

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Robinhood, Revolut eye entry into stablecoin market Report

Both Robinhood and Revolut are reportedly considering issuing their own stablecoins as the industry continues to expand.

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Ethena Labs jumps 14% on BlackRocks BUIDL backed UStb stablecoin announcement

Ethena Labs has announced the introduction of UStb, a new stablecoin fully backed by BlackRock’s on-chain BUIDL fund, developed in partnership with Securitize. This product is an additional fiat stablecoin alongside USDe, offering a differentiated risk profile to users and exchange partners. UStb will reportedly function identically to traditional stablecoins and exist as an isolated […]

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PayPal Increases Supply of Their Stablecoin PYUSD by a MASSIVE 90%...

PayPal's foray into the stablecoin market with PayPalUSD (PYUSD) has been nothing short of remarkable.

The total market capitalization of PYUSD has skyrocketed to $8 million, marking a staggering 90% growth from its initial value slightly above $2 million at the start of the month.

This meteoric rise can be attributed to its adoption by several leading centralized exchanges.

Notably, Kraken was a significant player, contributing to 90% of PYUSD's trading volume last month.

The surge in supply aligns with the trading volumes, which have amplified fourfold, touching $9.29 million. Since its inclusion on September 7, Huobi has become a dominant force, accounting for 57% of the coin's trading volume.

Currently, PYUSD predominantly trades against other stablecoins such as USDT, USD, and EUR. However, Crypto.com stands out as the sole exchange offering trading pairs with major cryptocurrencies like bitcoin (BTC) and ether (ETH) against PYUSD, though these pairs have yet to gain substantial volume.

The potential for PYUSD's growth is palpable, especially as more exchanges are poised to introduce diverse trading pairs. Launched on August 7, PYUSD is underpinned by dollar deposits and short-term US Treasuries, operating as an ERC-20 token on the Ethereum network.

Could PYUSD be gearing up to challenge USDT and USDC?

While PayPal has some distance to cover, the current trajectory suggests a promising future. If they maintain this pace, PYUSD could indeed emerge as a formidable contender in the stablecoin arena.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

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PayPals PYUSD stablecoin shrinks 30% in a month as DeFi yields on Solana plummet

PayPals stablecoin PYUSD lost nearly 30% of its market cap over the last 30 days, sliding from over $1 billion to $712 million as of Sept. 25, according to on-chain data. The decline was primarily caused by a significant reduction of its market cap on Solana, which accounted for roughly 65% of the total market […]

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