Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from $171.37 billion to today’s $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July.
Following the significant climb since mid-2020, the stablecoin economy has seen growth slow during the last few months. In mid-April 2022, the stablecoin economy neared the $200 billion range for the first time in history, but following Terra’s stablecoin fiasco, more than $35 billion disappeared from the stablecoin economy by May 13, 2022. On May 12, 2022, the stablecoin economy was 10.66% larger than it is today at $171.37 billion.
By July 7, the stablecoin economy was down to $154 billion, according to stats saved by archive.org via coingecko.com. The stablecoin economy has remained stagnant in terms of growth during the past 73 days. Tether (USDT), the largest stablecoin market cap, has grown slightly rising 0.7% during the past month, while usd coin (USDC) saw a 4.9% decline. Binance’s stablecoin BUSD saw an 11.1% increase, while DAI, FRAX, and TUSD declined during the last 30 days.
Pax dollar (USDP) jumped 19.7% higher this past month, but neutrino usd (USDN) dipped by 9.5% lower. Besides BUSD and USDP, celo dollar (CUSD) was one of the only stablecoin market valuations that grew, as CUSD saw a 7.1% increase. A lion’s share of stablecoins within the stablecoin economy saw their market valuations slide during the past month. Furthermore, out of all the stablecoins in existence today, both USDT and USDC equate to 77.26% of the $153 billion stablecoin economy.
Out of the entire crypto economy’s net value at $1 trillion, tether (USDT) represents 6.761%, while usd coin (USDC) equates to 4.995%. While the stablecoin economy has seen stagnant growth during the last 73 days, stablecoins still represent a great deal of the global crypto trade volumes worldwide. Today, $37.68 billion of the $50.55 billion in overall global crypto trade volume is settled in stablecoin assets. The stablecoin trade volume equates to 74% of the global crypto trade volume on Sunday, September 18, 2022.
What do you think about the stablecoin economy’s stagnant growth during the last 73 days? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments
Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms ... read more.
Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from $171.37 billion to today’s $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July.
Following the significant climb since mid-2020, the stablecoin economy has seen growth slow during the last few months. In mid-April 2022, the stablecoin economy neared the $200 billion range for the first time in history, but following Terra’s stablecoin fiasco, more than $35 billion disappeared from the stablecoin economy by May 13, 2022. On May 12, 2022, the stablecoin economy was 10.66% larger than it is today at $171.37 billion.
By July 7, the stablecoin economy was down to $154 billion, according to stats saved by archive.org via coingecko.com. The stablecoin economy has remained stagnant in terms of growth during the past 73 days. Tether (USDT), the largest stablecoin market cap, has grown slightly rising 0.7% during the past month, while usd coin (USDC) saw a 4.9% decline. Binance’s stablecoin BUSD saw an 11.1% increase, while DAI, FRAX, and TUSD declined during the last 30 days.
Pax dollar (USDP) jumped 19.7% higher this past month, but neutrino usd (USDN) dipped by 9.5% lower. Besides BUSD and USDP, celo dollar (CUSD) was one of the only stablecoin market valuations that grew, as CUSD saw a 7.1% increase. A lion’s share of stablecoins within the stablecoin economy saw their market valuations slide during the past month. Furthermore, out of all the stablecoins in existence today, both USDT and USDC equate to 77.26% of the $153 billion stablecoin economy.
Out of the entire crypto economy’s net value at $1 trillion, tether (USDT) represents 6.761%, while usd coin (USDC) equates to 4.995%. While the stablecoin economy has seen stagnant growth during the last 73 days, stablecoins still represent a great deal of the global crypto trade volumes worldwide. Today, $37.68 billion of the $50.55 billion in overall global crypto trade volume is settled in stablecoin assets. The stablecoin trade volume equates to 74% of the global crypto trade volume on Sunday, September 18, 2022.
What do you think about the stablecoin economy’s stagnant growth during the last 73 days? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments
Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms ... read more.
Following Ethereum’s Merge, a number of cryptocurrency community members have been discussing the proof-of-work (PoW) fork called ETHW as it dropped significantly in value during the past few days. However, a lot of people are unaware that there’s another Ethereum-based PoW fork called ethereumfair (ETF), and ETF has gathered a small amount of hashrate and fiat value since the token’s mainnet launch.
Most people were aware that a proof-of-work (PoW) crypto asset called ETHW was created following The Merge on September 15, because it was announced weeks before the mainnet launch. At the time of writing, ETHW is down 17% against the U.S. dollar in 24 hours, and the project’s hashrate has slipped a great deal as well.
On September 15, ETHW’s hashrate tapped an all-time high (ATH) at 80.56 terahash per second (TH/s). Although, ETHW’s hashrate has faltered in recent times and the PoW network has lost 53.35% of hashpower since then.
A great number of people are unaware that ETHW is not the only ETH-based PoW fork as there’s another ETH-based PoW fork called ethereumfair (ETF). The Ethereumfair team has a website and a few social media channels.
The team’s Twitter account was created in January 2020, and it has 14,100 Twitter followers at the time of writing. The Ethereumfair account has roughly 1,000 fewer followers than ETHW’s 15.1K Twitter followers. While ETHW has lost 17%, ETF is also down 17.6% against the U.S. dollar at $1.57 per unit.
Coingecko.com stats show ETF has seen a price range between $1.48 to $3.50 per unit and $3.43 million in global trade volume. Two days ago, ETF’s price tapped an all-time high at $20.59 per unit, and on the same day, it slid to its lowest point at $0.99 per coin.
ETF trading activity today is prominent on Huobi and Gate.io with the most dominant trading pair being tether (USDT). Poloniex also lists ETF as well but the exchange leveraged the ETHW IOU market and renamed it to ETF.
At press time, there is a price anomaly between Poloniex’s, Huobi’s, and Gate.io’s ETF exchange rates. Because while Huobi’s ETF exchange rate is $1.57 per ETF and Gate.io’s data shows $1.58, Poloniex ETF markets are between $7.94 to $7.99 per unit, which matches the same value as ETHW’s current price.
Ethereumfair has also gathered a small percentage of hashrate leftover from The Merge. At the time of writing, Ethereumfair’s hashrate is at 7.9 TH/s and there are seven nodes dedicated to the new network. Compared to ETHW’s hashrate, ETF’s hashpower represents 21% of ETHW’s total hashrate.
Ethereum Classic’s hashrate today is coasting along at 219 TH/s, according to statistics collected by 2miners.com. ETF’s and ETHW’s combined hashrate equates to just over 20% of ETC’s aggregate hashpower. ETC is currently trading for $33.35 per unit, which means ETHW equates to 22% of ETC’s value, while ETF equates to 4.73% of ETC’s net USD value.
The double fork that took place following The Merge is unusual, but multiple forks have happened to blockchain networks in the past. For instance, in April 2018, the privacy-centric blockchain network Monero split into four different protocols following a hard fork that year.
What do you think about the birth of Ethereumfair and the fact that there are two Ethereum-based PoW forks now? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.
Following Ethereum’s Merge, a number of cryptocurrency community members have been discussing the proof-of-work (PoW) fork called ETHW as it dropped significantly in value during the past few days. However, a lot of people are unaware that there’s another Ethereum-based PoW fork called ethereumfair (ETF), and ETF has gathered a small amount of hashrate and fiat value since the token’s mainnet launch.
Most people were aware that a proof-of-work (PoW) crypto asset called ETHW was created following The Merge on September 15, because it was announced weeks before the mainnet launch. At the time of writing, ETHW is down 17% against the U.S. dollar in 24 hours, and the project’s hashrate has slipped a great deal as well.
On September 15, ETHW’s hashrate tapped an all-time high (ATH) at 80.56 terahash per second (TH/s). Although, ETHW’s hashrate has faltered in recent times and the PoW network has lost 53.35% of hashpower since then.
A great number of people are unaware that ETHW is not the only ETH-based PoW fork as there’s another ETH-based PoW fork called ethereumfair (ETF). The Ethereumfair team has a website and a few social media channels.
The team’s Twitter account was created in January 2020, and it has 14,100 Twitter followers at the time of writing. The Ethereumfair account has roughly 1,000 fewer followers than ETHW’s 15.1K Twitter followers. While ETHW has lost 17%, ETF is also down 17.6% against the U.S. dollar at $1.57 per unit.
Coingecko.com stats show ETF has seen a price range between $1.48 to $3.50 per unit and $3.43 million in global trade volume. Two days ago, ETF’s price tapped an all-time high at $20.59 per unit, and on the same day, it slid to its lowest point at $0.99 per coin.
ETF trading activity today is prominent on Huobi and Gate.io with the most dominant trading pair being tether (USDT). Poloniex also lists ETF as well but the exchange leveraged the ETHW IOU market and renamed it to ETF.
At press time, there is a price anomaly between Poloniex’s, Huobi’s, and Gate.io’s ETF exchange rates. Because while Huobi’s ETF exchange rate is $1.57 per ETF and Gate.io’s data shows $1.58, Poloniex ETF markets are between $7.94 to $7.99 per unit, which matches the same value as ETHW’s current price.
Ethereumfair has also gathered a small percentage of hashrate leftover from The Merge. At the time of writing, Ethereumfair’s hashrate is at 7.9 TH/s and there are seven nodes dedicated to the new network. Compared to ETHW’s hashrate, ETF’s hashpower represents 21% of ETHW’s total hashrate.
Ethereum Classic’s hashrate today is coasting along at 219 TH/s, according to statistics collected by 2miners.com. ETF’s and ETHW’s combined hashrate equates to just over 20% of ETC’s aggregate hashpower. ETC is currently trading for $33.35 per unit, which means ETHW equates to 22% of ETC’s value, while ETF equates to 4.73% of ETC’s net USD value.
The double fork that took place following The Merge is unusual, but multiple forks have happened to blockchain networks in the past. For instance, in April 2018, the privacy-centric blockchain network Monero split into four different protocols following a hard fork that year.
What do you think about the birth of Ethereumfair and the fact that there are two Ethereum-based PoW forks now? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.
PRESS RELEASE. JPEX, a licensed digital bank designed to enable the buying and selling of virtual and digital currencies, has announced its partnership extension with the Australian-based football club, Western Sydney Wanderers. This contract renewal will see the crypto trading platform continue providing needed support to the A-League team until the end of the 2022/2023 footballing season.
In addition to this partnership extension, JPEX recently launched the “Fix the Money, Fix the World” marketing initiative starring Kusini Yengi, Tomi Mrcela, and Lawrence Thomas—Western Sydney Wanderers players. Speaking about this campaign and the extension, Scott Hudson, CEO of the A-League football club, reveals that he is delighted with both announcements, and he’s looking forward to more support from JPEX in the forthcoming football seasons.
“After a year’s partnership with the Wanderers, we found that it was an amazing start to our relationship with the club doing everything they could to promote us to their Western Sydney community,” Vincent Le, JPEX’s General Manager, states about this partnership. He further encourages the home fans to rally behind the team and JPEX from now until the end of the season.
JPEX’s Crypto-focused Ads
JPEX has also partnered with the Australian-based team to create and launch a cryptocurrency-tailored ad to drive JPEX’s influence further and, in turn, accelerate global crypto adoption. Besides the live viewing of all Wanderers’ football games for the 2022/2023 season, this recent collaboration will see the digital trading platform try to incorporate generic cryptocurrency phrases like “TO THE MOON” and “HODL” into the world of football.
JPEX, through this crypto-focused advert, hopes to get the regular football fan acclimatized with basic yet essential cryptocurrency words and their meanings. The first advert—HODL—is brought to life by the Wanderers’ goalkeeper, who refuses to let go of the ball. Similar to the crypto space, the goalie is holding on to the ball for his life, comparable to how a crypto owner holds a token in the bear season.
With sublime success recorded thanks to these marketing campaigns, JPEX hopes to continue partnering with various brands as it seeks to become a household name in the crypto space. One such partnership is with Simplex by Nuvei, which will see the digital trading platform build and launch physical crypto-friendly cards to facilitate a host of transactions for JPEX users.
About JPEX
JPEX is a recognized and licensed digital trading bank that aims to offer users a reliable, safe, and secure platform to trade all kinds of cryptocurrencies. With many partnerships and collaborations, JPEX seeks to widen its global crypto reach while solidifying its stance as one of the most innovative and revolutionary crypto trading infrastructures in the trillion-dollar market.
Social Contact
Facebook: https://www.facebook.com/JPEX-Japan-Exchange-100535999063470
Twitter: https://twitter.com/exchangejpex
YouTube: https://www.youtube.com/channel/UCeslqL2jMg1kBYR1Fqua3Qw
Discord: https://discord.com/invite/jpex
Instagram: https://instagram.com/jpex_official?igshid=YmMyMTA2M2Y=
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales
Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% ... read more.
Source From : News