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Stablecoins: what are they and how do they work?
Crypto Guides

Stablecoins: what are they and how do they work?

Stablecoins have gained a lot of popularity in recent years as they offer a stable price to their users, unlike cryptocurrencies such as Bitcoin or Ethereum, whose prices can be highly volatile. Stablecoins are digital tokens that are designed to maintain a stable value by being pegged to a stable asset such as a fiat currency or a commodity. In this article, we will explore what stablecoins are, how they work, and their benefits and limitations. What are Stablecoins? Stablecoins are digital tokens that aim to maintain a stable price by being backed by a stable asset such as a fiat currency, a commodity, or even another cryptocurrency. They offer users a reliable and stable way to store and transfer value without being affected by the volatility of traditional cryptocurrencies. Stable...
The Discussion Held By The U.S. And South Korean Officials Could Further Affect The Stablecoin Projects.
Blockchain

The Discussion Held By The U.S. And South Korean Officials Could Further Affect The Stablecoin Projects.

The meeting held by the U.S. and South Korean officials with the aim of "information sharing"  could further affect the stablecoin project. The officials of the two countries met this week to talk about May's Terra collapse. The meeting was done on Tuesday 6th June, in attendance was the chief of the U.S. Securities and Commodities Fraud Task Force, Scott Hartman. The objective of the meeting was to formalize an agreement between the two interested countries on sharing information and strengthening cooperation in investigations surrounding major securities fraud and financial crimes. Read Also: Still On The Elon Musk's Promise; Musk's Vegas Loop Company Starts Accepting Dogecoin As Payment For Rides. During the meeting, two-way obligations in exchanging on-hand data about...
Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours
Cryptocurrency

Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours

Terra’s collapsed stablecoin USTC prices experience a sudden spike of almost 400% over the last 24 hours. And this resulted in the token entering the top 100 cryptocurrencies. Amid the volatility in the crypto firm related to Terra’s newly released token LUNA 2.0, TerraClassicUSD has striven to spike more than 400% over the past 7 days. It is trading at an average price of around $0.042, at the press time. USTC’s 24-hour trading volume has increased by 413% to stand at $83 million. Read Also: Shiba Inu Spiked 50% In Seven Days, Its Addresses Approach 1.2 Million USTC’s total market Cap added almost $200 million in the last 24 hours as gotten from the data from the Coin MarketCap. Presently, it calms around $402 million. The meant-to-be stablecoin has now grabbed the 84th spot amo...
Tether To Release A Stablecoin Pegged To The British Pound In Early July.
Cryptocurrency

Tether To Release A Stablecoin Pegged To The British Pound In Early July.

A couple of weeks ago, Tether was launched on tezos blockchain with the hope to affect the long-term growth of tezos. The news excited the whole community as revealed by the tether CTO,  Paolo Ardoino; “Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.” Tether to launch a stablecoin pegged to the British pound. In early July, Tether will release a stablecoin pegged to the British pound. Dubbed GBPT, the stablecoin is part of a push by Tether into new stablecoins and will be available initially on the Ethereum blockchain. Read Also: Large Transactions Spiked 888% In The Last 24 Hours As Whales\Holders Interact With Billion Of Shiba Inu About the coming Stablecoin The incoming pound stablecoin is Tether’s fi...
Tether Releases A New Stablecoin Pegged To The Mexican Peso
Cryptocurrency

Tether Releases A New Stablecoin Pegged To The Mexican Peso

Tether has released a new Mexican peso-pegged stablecoin, marking its entrance into Latin America. Dubbed MXNT, the stablecoin will previously be available on the Ethereum, Tron, and Polygon Blockchain, Tether stated today. This is Tether's fourth fiat-pegged stablecoin, after US dollar-pegged USDT, Euro-pegged EURT, and the offshore Chinese Yuan-pegged CNHT. Read Also: XRP Whales Massively Accumulating, Supply Held Reaches Two-Month High "We have seen a rise in cryptocurrency usage in Latin America over the last year that has made it apparent that we need to expand our offerings," Paolo Ardoino, CTO of Tether, said in a statement. "Introducing a Peso-pegged stablecoin will provide a store of value for those in the emerging markets and particularly Mexico." Testing ground for Lat...
fUSD stablecoin Release and announcement of Cronje’s return send Fantom (FTM) price higher
Cryptocurrency

fUSD stablecoin Release and announcement of Cronje’s return send Fantom (FTM) price higher

After a strong 2,000% spike in early 2021, Fantom's (FTM) price collapsed alongside multiple altcoins and even though the blockchain has an impressive capability, it has yet to get large adoption due to the lack of a compelling use case. FTM price hit an all-time high at $3.46, only to collapse to its pre-bull market lows under $0.25 after the failure of the Solidly DeFi project and the departure of developer Andre Cronje.   Read Also: XRP Ledger Is Conclude to Having Native NFT Operationality Data from Cointelegraph Markets Pro and TradingView reveals that since dropping to $0.238, FTM has rallied 119.23% to $0.5216 on May 23. Three reasons for the spike in FTM prices are the release of the first native stablecoin on the Fantom network, new protocol upgrades and collab...