Turkey tops the world in stablecoin buying share vs. GDP

April 25, 2024 Coin Telegraph

Stablecoin purchases in Turkey amount to 4.3% of GDP, the highest among global economies, according to Chainalysis.

The United States may lead the world in stablecoin transaction volumes, but its share of stablecoin purchases relative to its gross domestic product (GDP) has been eclipsed by Turkey.

According to “The 2024 Crypto Spring Report,” released on April 25 by the blockchain intelligence firm Chainalysis, Turkey has the highest share of stablecoin purchases relative to its GDP.

Based on Chainalysis’ data, stablecoin buying in Turkey accounted for 4.3% of its GDP between April 2023 and March 2024, making it the world’s biggest spender of stablecoins relative to its GDP.

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Stablecoin Market Hits $160 Billion, Reaching Heights Not Seen Since Terra’s Crash

April 22, 2024 Bitcoin.com

Stablecoin Market Hits 0 Billion, Reaching Heights Not Seen Since Terra’s Crash

Altcoins

This week, the value of the fiat-pegged cryptocurrency economy has climbed to $160 billion, a peak last observed in May 2022, shortly before Terra’s UST detached from its intended $1 parity on May 9, 2022. In the past month, various stablecoins have experienced an increase in supply, with Ethena’s USDE at the forefront, registering a […]

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Stablecoin Market Climbs $2.81B in a Week, Nearing $160B Valuation

April 19, 2024 Bitcoin.com

Stablecoin Market Climbs .81B in a Week, Nearing 0B Valuation

Altcoins

Over the past seven days, the stablecoin sector has expanded by $2.81 billion, bringing the dollar-pegged cryptocurrency market close to a total valuation of $160 billion. A significant portion of this growth, exceeding $2 billion, is attributed to the increase in USDT’s market capitalization, which reached $109.38 billion by Friday at 1:00 p.m. Eastern Time. […]

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Top Crypto Exchange Binance Converts $1,000,000,000 Secure Asset Fund From Bitcoin and BNB to Stablecoin USDC

April 19, 2024 The Daily Hodl

Top Crypto Exchange Binance Converts ,000,000,000 Secure Asset Fund From Bitcoin and BNB to Stablecoin USDC

Altcoins

Binance has converted all of the crypto in its $1 billion emergency insurance fund into the stablecoin USDC. The top global crypto exchange established the “Secure Asset Fund for Users” (SAFU) in 2018 to protect Binance users from “extreme situations.” The fund has typically attempted to maintain a balance worth $1 billion, though fluctuating crypto […]

The post Top Crypto Exchange Binance Converts $1,000,000,000 Secure Asset Fund From Bitcoin and BNB to Stablecoin USDC appeared first on The Daily Hodl.

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Binance Shifts $1 Billion in SAFU Bitcoin Reserves to USDC

April 18, 2024 Bitcoin.com

Binance

Binance, the leading cryptocurrency exchange globally in terms of trading volume, has shifted its SAFU (Secure Asset Fund for Users) reserves into the stablecoin USDC to bolster “its reliability.” During the early hours of Thursday, the platform transferred two substantial amounts of BTC and BNB. Binance Executes Dual Crypto Moves on Thursday: What’s Behind the […]

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Binance’s $1B emergency ‘SAFU’ fund now makes up 3% of UDSC supply

April 18, 2024 Coin Telegraph

Binance

Binance’s billion-dollar emergency fund was previously held in three wallets: Bitcoin, Tether, True USD and BNB.

The world’s largest crypto exchange, Binance, is converting its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin and now holds 3% of its circulating supply.

The company announced the move on April 18, stating that “we are transferring 100% of SAFU’s assets to USDC” but didn’t elaborate on why, other than it was “making use of a trusted, audited, and transparent stablecoin for SAFU,” which further enhances its reliability and ensures it remains stable at $1 billion.

The exchange’s Secure Asset Fund for Users is an emergency insurance fund established in 2018 to protect Binance users in extreme situations, such as exchange hacks, where users could be reimbursed for unforeseen losses.

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Stablecoin Market Expands by $4.46 Billion in 12 Days

April 12, 2024 Bitcoin.com

Stablecoin Market Expands by .46 Billion in 12 Days

Altcoins

In the last 12 days of April, the stablecoin sector expanded by $4.46 billion, reaching a current valuation of $155.86 billion. Additionally, the top five dollar-pegged cryptocurrencies experienced an increase in their supplies over the last 30 days. Top Dollar-Pegged Cryptos See Growth Amid April’s First 12 Days As of Friday, April 12, 2024, the […]

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Investors in BlackRock’s New Tokenized Assets Fund Can Now Transfer Their Shares To Circle for Stablecoin USDC

April 12, 2024 The Daily Hodl

blackrock

Stablecoin issuer Circle just rolled out a new smart contract functionality that enables holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to convert their shares into USDC. The BUIDL is asset management giant BlackRock’s first tokenized fund that invests in cash, U.S. Treasury bills and repurchase agreements. Shares are represented by a blockchain-based […]

The post Investors in BlackRock’s New Tokenized Assets Fund Can Now Transfer Their Shares To Circle for Stablecoin USDC appeared first on The Daily Hodl.

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Circle Unveils Smart Contract Service for Blackrock BUIDL Holders to Convert to USDC

April 11, 2024 Bitcoin.com

bitcoin.com

On Thursday, the financial technology firm and stablecoin provider Circle introduced smart contract capabilities aimed at enabling holders of the Blackrock USD Institutional Digital Liquidity Fund (BUIDL) to exchange their shares for USDC through Circle. Circle Provides BUIDL Off-Ramp This week, Circle announced it is providing a redemption pathway for BUIDL holders through USDC. BUIDL, […]

Visa provides stablecoin analytics dashboard with ‘noise’ filtered out

Circle Launches Native USDC Stablecoin on the Ethereum Scaling and Privacy Solution zkSync

April 11, 2024 The Daily Hodl

Altcoins

Stablecoin issuer Circle says the dollar-pegged USDC is now available natively on layer-2 Ethereum (ETH) scaling protocol zkSync. In a series of posts on social media platform X, zkSync says that, unlike the USDC that was previously bridged on its platform, native USDC is different. “It’s backed by Circle with additional benefits: Regulated, fully reserved, […]

The post Circle Launches Native USDC Stablecoin on the Ethereum Scaling and Privacy Solution zkSync appeared first on The Daily Hodl.

USDC

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