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Tag: Stablecoins

A stablecoin is a fiat-backed cryptocurrency that has a value pegged to another stable asset, such as the US dollar.

USDC repegs crypto markets recover

USDC Stablecoin Recovers Dollar Peg

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In Brief: Bitcoin’s price has surpassed $23,000 due to recent banking issues in the United States, leading to an increase in demand for cryptocurrency. USDC, a stablecoin, has regained its dollar peg after experiencing a period of chaos due to a banking problem in Silicon Valley. The correlation between US banking problems and the surge in cryptocurrency prices raises questions about the future of the traditional banking system. USDC...

$USDC, Cryptocurrencies, Front page, Main, Stablecoins

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USDC depegs

USDC Stablecoin Depegs Following Silicon Valley Bank Collapse

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In brief: USDC stablecoin loses its peg to the U.S. dollar and drops as low as $0.88 following the collapse of Silicon Valley Bank. Tether maintains its peg while other stablecoins see minor drops. Circle’s $3.3 billion held at Silicon Valley Bank amounts to 8.25% of its $40 billion reserves. Frax, a decentralized stablecoin partly backed by USDC, also depreciates to $0.90. The fallout from the collapse of Silicon Valley Bank...

$FRAX, $USDC, Bankruptcy, Front page, Main, Silicon Valley Bank (SVB), Stablecoins

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Crypto Market – March 10, 2023

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Cryptocurrency prices fell after Silvergate, a bank that has been at the center of the industry’s growth, made a decision to shut down. The liquidation of Silvergate Capital (SI), a crucial U.S. banking partner, could mean for the crypto asset class’ access to dollars. The wider market capitalization of all cryptocurrencies fell below $1 trillion for the first time since January 19. Bitcoin is down 8.3% over the day, trading at $19,900. Bitcoin...

$AVAX, $BNB, $DOGE, $SOL, $XRP, Bitcoin, Cardano, COSMOS, Ethereum, Polygon, Stablecoins

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Crypto Market – March 3, 2023

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Bitcoin, Ethereum, and other cryptocurrencies have declined during the last twenty-four hours owing to US manufacturing data and persistent worries over the banking access of crypto firms. The aftermath of Silvergate also hindered expansion. $22,300 is the lowest Bitcoin price in the last two weeks. Bitcoin has a 24-hour volume of $26,182,758,866 USD and is trading at $22,349.28 USD at the moment of writing. Overnight, Bitcoin lost 4.35 percent,...

$AVAX, $BNB, $DOGE, $SOL, $XRP, Bitcoin, Cardano, COSMOS, Crypto market, Cryptocurrencies, Ethereum, Polygon, Stablecoins

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Mastercard

Mastercard to Enable USDC Payments through Immersve Alliance

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Mastercard has announced a new partnership with Immersve to enable payments using USDC, a stablecoin pegged to the US dollar, on its network. The goal of this alliance is to make cross-border payments faster and more efficient while also making them more stable. With this partnership, Mastercard hopes to use blockchain technology to give its customers more secure and faster ways to pay. The use of USDC also gives these transactions a stable...

Altcoins, Blockchain, Cryptocurrencies, Front page, Main, Mastercard, Stablecoins

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