Stablecoins

Many investors hold an array of assets, both digital like cryptos and securities like shares and stocks. This is because diversified portfolios typically have more chances of success. Even crypto investors hold a variety of tokens, including memecoins like Dogecoin (DOGE) and stablecoins like Tether (USDT) for the best returns. Of course, investors do not add tokens just for the sake of it. They consider the prospects of each investment before deciding if it is worth holding. In our analysis, we highlight the…

Top 100 altcoins delivered an average ROI of 57% in 2023, and 2024 is projected to surpass that number as competition mounts. The cryptocurrency market, valued at over $2 trillion as of February 2024, displays the immense pulling power of Decentralised Finance (DeFi). This article will discuss how Circle is phasing out support for USDC on the Tron (TRON) network and why Scorpion Casino (SCORP) and Pullix each offer distinct value propositions and promising returns on investment (ROIs).  First, we’ll explore…

South Africa is embarking on an ambitious journey to shape the future of digital finance, focusing on the development of a stablecoin framework and the exploration of tokenization’s potential. The Intergovernmental Fintech Working Group, a collective effort from various sectors, is pushing for this development. It aims to thoroughly assess the implications of stablecoins and the broader concept of tokenization on the domestic markets. This initiative highlights the nation’s commitment to adapting to digital…

Navigating Stability: The Rise of AI-Backed Stablecoins in the Crypto Landscape Stablecoins, designed to minimize the volatility inherent in cryptocurrencies, have witnessed a new wave of innovation with the emergence of AI-backed stablecoins. These digital assets leverage artificial intelligence algorithms to maintain stability, but questions linger about their reliability. In this article, we delve into the rise of AI-backed stablecoins, exploring their mechanisms, benefits, and the critical question: How…

Credit rating firm S&P Global has started providing risk assessments of eight of the world's top stablecoins, with the two of the most widely used, Tether and Dai, given near bottom marks.Stablecoins are a form of cryptocurrency backed by an asset or fiat currency. They have surged in popularity but their weaknesses were exposed last year by the spectacular collapse of TerraUSD and its sister coin Luna. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive…

In the ever-evolving world of cryptocurrencies, stability is often sought after to counter the volatility that plagues the market. Tether (USDT), a prominent player in the realm of stablecoins, has made waves by announcing a strategic move that involves buying Bitcoin (BTC) with a portion of its net profit to back its widely-used USDT stablecoin. In this article, we explore the implications of Tether’s decision, highlighting its relationship with Bitcoin and guiding readers onto the innovative and utility-focused Dogetti…

Know how the drop in the price of BTC and ETH is affecting other stablecoins and altcoins Bitcoin (BTC) has been on a tear this year, rising from a price of $15K to $31K in under four months. However, it has since fallen to the $28K range, with multiple attempts to break past the $30K resistance level failing. On the other hand, after a long, cold crypto winter that saw Ethereum (ETH) drop in value by 36.22% in 2022, it truly turned the corner this year. Year-to-date as of May 11, Ethereum has gained more than 60% and…

Too Long; Didn't ReadAlgorithmic stablecoins are cryptocurrencies that use algorithms to maintain a stable value. They are not backed up by any sort of reserve asset as collateral. This article examines the major types of algorithmic stable coins, their design, and shortcomings. It then explores how algorithmicstablecoins may develop over time. Too Long; Didn't ReadAlgorithmic stablecoins are cryptocurrencies that use algorithms to maintain a stable value. They are not backed up by any sort of reserve asset as…

There may need to be limits initially on the use of major stablecoins for payments, and they should also be backed by high quality and liquid assets to protect consumers, Bank of England Deputy Governor Jon Cunliffe said on Monday. Britain is due to adopt rules for regulating stablecoins, a form of cryptocurrency backed by an asset or fiat currency, which consumers could use to make payments digitally. "Systemic stablecoins will need to be backed with high quality and liquid assets," Cunliffe told a conference held by…

Too Long; Didn't ReadThe recent de-peg of USD Coin (USDC) has highlighted a flaw in the design of fiat-backed stablecoins, with Circle's USDC temporarily falling to 88 cents due to the fractional reserve held at the Silicon Valley Bank (SVB), which suffered a bank run on March 10. In a HackerNoon poll, 38% of users trust Tether (USDT), followed by USDC at 22%, and DAI at 14%. While stablecoins offer an alternative to volatile cryptocurrencies, the market remains uncertain, and the recent event with USDC may prompt changes…