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Cointelegraph Consulting: Stablecoin activity drops after May peak

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Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market environment.

Unsurprisingly, the two cryptocurrencies that remain in a tight race for stablecoin dominance are Tether (USDT) and USD Coin (USDC). However, the market holds a fine distinction between the two, particularly with their corresponding reserve holding.

Credit rating agency Fitch Ratings even warned recently about Tether’s risk triggering a destabilization in short-term credit markets, since its reserves are not all in cash. On the other hand, Fitch cites USDC as an example of a fully backed safe asset since it keeps the United States dollars on a one-to-one basis in custody accounts.

Stablecoin analysis

Still, users flock to Tether for a number of purposes. Data from Covalent reveals that Tether exceeded the total transactions of USDC by at least 500,000. USDT had 2.9 million total transactions from January to June while USDC had 2.4 million. But in terms of dollar volume, USDC beats Tether, $21.4 billion to $19.3 billion, respectively.

Moreover, there are some signs of institutional avoidance of Tether. Rather, institutional users seem to prefer using MakerDAO’s DAI, even though USDT has exceeded DAI’s total number of transactions and total trading volume by a long shot.

Data from Covalent shows that DAI’s average transaction value was $50,000 at its peak in May, which was the highest swap value of all stablecoins. With this record, DAI also outperforms other stablecoins by average swap size, hitting around $10,900. In contrast, Tether seems to be the top choice of smaller retail accounts, with its average transaction value of $6,600.

One more outlier is TerraUSD (UST), another U.S. dollar stablecoin that pales in comparison to Tether and USDC’s volume, but outshines the two, much like DAI, in average transaction value. UST averages $10,660 per swap, denoting the preference of bigger accounts for this stablecoin.

However, UST only ranks fourth among stablecoins by the number of swaps, comprising just 2% of the swaps facilitated by the leader, USDT. 

Among the two major stablecoins, Tether outpaces USDC by roughly 500,000 swaps. However, USDC outpaces Tether by average swap size of around 33%, which provides USD Coin an advantage by the total swap value.

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Data also looks into which DEX has the most stablecoin trading volume, and the numbers point to Uniswap. The first half of the year saw Uniswap tower above the number of stablecoin transactions at SushiSwap. In January, Uniswap closed in on 1.4 million daily swaps versus SushiSwap’s roughly 200,000.

Uniswap v2 powers 88% of all stablecoin swaps and still remains an enviable spot for transactions, despite the rollout of Uniswap v3 back in May. It has become evident that Uniswap is more of a go-to for stablecoin liquidity.

With an average transaction volume of several thousand dollars, Ethereum’s ever-growing transaction fees do not seem to be a problem. However, as stablecoins garner mainstream adoption and the average stablecoin transaction volume decreases, users may look to more affordable stablecoin blockchains.

Cointelegraph’s Market Insights Newsletter shares our knowledge on the fundamentals that move the digital asset market. With market intelligence from one of the industry’s leading analytics providers, Covalent, the newsletter dives into the latest data on social media sentiment, on-chain metrics and derivatives.

We also review the industry’s most important news, including mergers and acquisitions, changes in the regulatory landscape, and enterprise blockchain integrations. Sign up now to be the first to receive these insights. All past editions of Market Insights are also available on Cointelegraph.com.

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Source: https://cointelegraph.com/news/cointelegraph-consulting-stablecoin-activity-drops-after-may-peak

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iBG Finance

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Deus Mio

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Source: https://medium.com/@djiv.allen09/ibg-finance-a454b55f5da4?source=rss——cryptocurrency-5

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T.E.A.M.

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ONE ECOSYSTEM NEWSLETTER UFFICIALE ITALIANO

Tradotto da Maria Gracia Prieto

24/SETTEMBRE/2021

So che molte persone hanno già sentito o fatto riferimento all’acronimo: “Together Everyone Achieves More” (T.E.A.M) “Tutti Insieme Otteniamo di Più”. Tuttavia, voglio mettere alcune prospettive aggiuntive a questo concetto. Mentre sono qui in Colombia e sento l’amore travolgente e l’apprezzamento dei colombiani dal momento in cui mi hanno accolto, a tutte le cose emozionanti che abbiamo condiviso finora.

Voglio sottolineare qualcosa che mi è stato ricordato da uno dei Diamanti Blu. Ha detto che una persona può avere talento, un sacco di abilità, ed essere una superstar, che sono qualità necessarie per gli individui in qualsiasi squadra, ma per vincere il campionato, è ancora necessario un intero team. In una squadra, tutti contano, l’assistente fisico, il ragazzo dell’acqua e l’autista. Una squadra non è fatta solo di giocatori, perché tutti coloro che la circondano la compongono. A volte dimentichiamo che per ottenere di più, dobbiamo operare come una squadra.

Scrivo questo tipo di messaggio perché sono stufo di essere stufo delle inutili lotte tra i membri, che dovrebbero essere nella stessa squadra. Noi siamo la squadra ONE e nella squadra ONE, avremo naturalmente delle superstar — su questo non ci piove. Ma l’ego di molti individui è ciò che ucciderà la squadra e ci farà perdere il campionato. Quindi, voglio mettere un avvertimento: il campionato è ciò che conta di più, non voi e la vostra abilità individuale. Piuttosto, voi che siete disposti ad essere un giocatore di squadra. A volte dovrete anche sedervi in panchina per permettere a un altro giocatore di entrare in gioco, indipendentemente dal fatto che abbiate più abilità di quel giocatore o meno. Dovete avere fiducia nell’allenatore e nelle decisioni che vengono prese, anche quando non le capite.

So che in questo momento la squadra sta affrontando diverse sfide. Alcuni sono consapevoli, mentre altri no — ma supereremo comunque questi ostacoli e queste sfide e ne usciremo vittoriosi. Bisogna semplicemente avere fiducia nel processo e concentrarsi sulla costruzione della squadra. Fate entrare quel nuovo membro che sarà una superstar e diventerà il Crown Diamond che desideriamo.

Detto questo, abbiamo alcune eccitanti novità in arrivo. La settimana scorsa ho parlato del potenziale spostamento del nostro prossimo evento globale in America Latina. È confermato al 99,999% che saremo in America Latina. Il paese specifico che ospiterà l’evento sarà presto nominato, e voi potete posizionarvi strategicamente per essere presenti all’evento. Tutte le strade portano all’Evento della Società questo gennaio 2022! Quindi, fissate una data amici miei, non tardate! Facciamo in modo che accada e capiamo che il OneEcosystem aggiunge di più alla vita!

Il vostro umile servitore e capitano,

King Jayms!

OnesOut!

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Source: https://onelife-newslettersita.medium.com/t-e-a-m-fb016178ba0d?source=rss——cryptocurrency-5

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iBG Finance

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Ronald

iBG Finance Weekly Lottery Specifications
This is an exclusive BSC lottery.
Lottery ticket price is at 5 iBG, but with discounts for bulk buy.
The drawing of winners will be every Sunday, 7 PM, GMT+8.
Two winners are to be picked every Sunday with 5k iBG each.
The lottery is fully managed by a smart contract that allows anyone to check the address.
Winners are a random pick in the tickets sale transactions.
100% of subscription proceeds burned at drawdown, no fees to the company nor the developer.

Stay tuned and follow us today for the latest updates!

#Crypto #Lottery #SuperStaking #RoboAdvisory #BlockChain #BSC #BSCGems

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
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Source: https://medium.com/@allexez.01/ibg-finance-69b241e4761d?source=rss——cryptocurrency-5

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