|All Time High:|
|Market Cap: |
|The price of #FRAX today is $1.00 USD.|
The lowest FRAX price for this period was $0, the highest was $1.000, and the exact current price of one FRAX crypto coin is $0.99950.
The all-time high FRAX coin price was $2.36.
Use our custom price calculator to see the hypothetical price of FRAX with market cap of ETH or other crypto coins.
|The code for Frax is also #FRAX. |
Frax is 1.8 years old.
|The current market capitalization for Frax is $1,354,093,879.|
Frax is ranked #43 out of all coins, by market cap (and other factors).
|The trading volume is big during the past 24 hours for #FRAX.|
Today's 24-hour trading volume across all exchanges for Frax is $1,803,976.
|The circulating supply of FRAX is 1,354,769,495 coins, which is 100% of the total coin supply.|
Frax Finance Monthly Report #19 | September 2022.
A round-up of Frax Finance updates in a few minutes. — Project Updates: - 1)[Fraxlend]: Fraxlend was launched on the Ethereum network. Users can borrow FRAX with WBTC and WETH as collateral. Fraxlend will create more cash flow for Frax Finance, which can be used to buy back FXS from the market then distributed to veFXS stakers as yield. 2)[Tracking]: DefiLlama added $FPI coin on their stablecoins dashboard. Users can now track FPI coin on DefiLlama stablecoins dashboard. 3)[Stable Pool]: $USDD — $FRAX — $USDC stable pool was on Balancer Labs. Users can now participate in the $USDD-$FRAX-$USDC stable pool on Balancer Labs. 4)[Twitter Space]: Sam Kazemian, Frax Finance co-founder was hosted on Blockworks Twitter Space by Pibblez and Dan Smith to discuss the upcoming Fraxlend, FraxETH and more. You can listen to the discussion here. 5)[Security Audit]: Code4rena launched a $50,000 code audit contest. Users will be contesting on the code audit to help to secure the upcoming Fraxlend. Bugs can be submitted here. 6)[Euler]: FPIS was added to Euler. Users can now borrow or lend their FPIS tokens on Euler. 7)[Exchange]: FRAX was listed on Bitrue spot trading. Users can deposit and trade their FRAX Bitrue Exchange. 8)[Pools]: IQ, PitchFXS, SYN & FRAXBP pools were added to the Convex. 9)[Bridge]: $FRAX & $FXS on Dogechain Network was added on the multichain bridge. Users can transfer their $FRAX & $FXS...
Frax Finance Monthly Report #18 | August 2022.
A round-up of Frax Finance updates in a few minutes. — Project Updates: - 1)[Partnership]: Gamma partnered with Frax Finance and Convex Finance to manage the FPI-FRAX Uniswap v3 pool on Optimism. Liquidity providers will be able to stake their LP positions on Convex Finance to earn boosted FXS rewards. 2)[Update]: The team discovered a weight-related issue in the FRAX/IQ and FRAX/pitchFXS farms on Fraxswap and a fix was carried out. The fixed versions of the Fraxswap FRAX/IQ and FRAX/pitchFXS gauge farms were deployed and they are marked as V3. Liquidity providers were advised to migrate their LP to the new farms and revote for the V3 versions only. The old pool rewards were stopped and the new pool rewards were started. 3)[Research Report]: A research report on TWAMM was written by a community member. The report covers how TWAMM is a revolutionary concept and Fraxswap is the first AMM designed from scratch with TWAMMs. Read details here. 4)[Collateral]: Sturdy, a protocol for interest-free borrowing and high yield lending added FRAXBP LP tokens as collateral. Users can use their FRAXBP LP tokens as collateral for interest-free borrowing on Sturdy. They can deposit FRAXBP and earn up to 29% APY on their stablecoins which is paid out in CRV with leverage. 5)[Flywheel]: Flywheel released a research piece which focused on FRAX’s unique floating collateralization ratio (CR). Read the article here. 6)[Vault]: Frax vaul...
Guide: How to create a new pool (pair) on Fraxswap.
In this guide we will explain how to create a new pool (pair) on Fraxswap., — 1- How to create a new pool (pair) on Fraxswap? - The pool creation on Fraxswap requires having two currencies in your wallet and ETH (or any native token of the chain you will be creating the new pool) to cover the gas fees. In this guide, we will be creating a new pool (pair) using FRAX & FVT tokens on the Ethereum network., You’ll need to have the both tokens you want to create their pool pair and also have the “smart contract address” of the new token you want to create the pool., — Step -1 - Head to Fraxswap pool via the link: app.frax.finance, You will arrive at the following page, then connect your metamask wallet., After connecting your metamask wallet, you will need to click on “FXS”, — Step -2 - You will arrive here, then add the “smart contract address” of the token you want to create the pool pair for., We will be entering the “FVT” contract address here., Now “FVT contract address” has been entered here, click on “ADD”, — Step -3 - “FVT” is now added to the list. We will proceed with creating the pool pair., Select “FRAX & FVT”., — Step -4 - Enter the amount of “FVT tokens per FRAX”. We will be using 1451 FVT per 1 FRAX., Then click “Supply”., (NOTE: It is recommended to use enough gas fees to execute the transactions). A MetaMask trans...
How to add liquidity to FRAX-IQ pool on Fraxswap.
In this guide we will explain how to add liquidity to FRAX0IQ pool on Fraxswap. 1- How to buy FRAX & IQ Tokens?Connect your MetaMask extension to Fraxswap then purchase the desired amount of FRAX and IQ using the link below: https://app.frax.finance/swap/main (NOTE: you will need equal dollar value of both FRAX and IQ, for example if you want to add 100 FRAX you will need 100$ worth of IQ). 2- How to add liquidity to the Frax-IQ pool on Fraxswap ?Step 1Now that you hold both FRAX and IQ in your wallet, you will need to add liquidity. Head to Fraxswap FRAX-IQ add liquidity link: https://app.frax.finance/swap/liquidity You will arrive at the following page: Step 2 Write the amount of FRAX you want to add to the liquidity pool, Fraxswap will automatically calculate the equivalent IQ that needs to be added.Step 3Click “Supply” . (NOTE: It is recommended to use enough gas fees to execute the transaction) A MetaMask transaction will pop-up to approve your spendings. Click “Confirm” .Another MetaMask transaction will pop-up to add liquidity.Click “Confirm”. Step 4 After waiting for the transaction to be completed, you will receive FRAX-IQ LP tokens, and Fraxswap will display your liquidity status here: Step 5 (Staking) Head to FRAX-IQ staking page: https://app.frax.finance/staking/fraxswap-frax-iq-v3 You will arrive at this page: Now your LP tokens should appear in the Staking area, click “MAX” to add them, ac...
Frax Finance Monthly Report #17 | July 2022.
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Collateral]: Perpetual Protocol added Frax as collateral. Users can deposit Frax stablecoin as collateral to trade and market-make on https://app.perp.com/ 2)[Twitter Space]: Token pocket hosted Frax finance, together with Conflux Network and Dopex on Twitter Space to discuss bear market survival guides and how users can control risks and protect their assets. 3)[Proposal]: A proposal to use $20M protocol-owned $FRAX to Buyback $FXS using Fraxswap was passed. The Buyback will happen using Fraxswap FRAX-FXS TWAMM pair over a period of minimum of 3 days or up to 30+ days. 4)[Liquidity]: FXS was added to Bancor. Bancor provided single-sided liquidity with an impermanent loss protection and auto-compounding returns. Users can deposit their $FXS on https://home.bancor.network/ 5)[Dex Aggregator]: Fraxswap was added on 1inch, A Dex aggregator with the most liquidity and the best rates on Ethereum, Binance Smart Chain, Optimism, Polygon, etc. Users will be able to trade on Fraxswap via 1inch. 6)[StellaSwap Basepool]: StellaSwap Basepool which supports $FRAX + $USDC + $USDT + $DAI went live on Moonbeam Network. Users can trade their $FRAX on Moonbeam Network with low fees, and can also stake on StellaSwap and earn dual rewards for staking. 7)[FRAX/USDC Basepool — Curve]: FRAX/USDC Basepool proposal, a proposal to add FRAX/USDC as a base pool to the stab...
Frax Finance Monthly Report #16 | June 2022
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Liquidity Pool]: Ape Finance launched ApeUSD+FRAX pool on Curve Finance to help to maintain ApeUSD’s peg to the USD. Liquidity providers that deposit into the pool will earn APEFI and FRX tokens. Also ApeUSD-FRAX pool was launched on Uniswap to help to improve the routing across ApeUSD-FRAX liquidity between Curve and Uniswap liquidity pools. 2)[Twitter Space]: iZUMi Finance hosted the Frax team on their Twitter Space to discuss the stablecoins and upcoming bear market. 3)[Farming]: FRAX/SUSHI farm was stopped and unlocked per governance vote. The pool was removed from the gauge due to the low TVL and this essentially allows stable pools and other FRAX/FXS/FPI/FPIS-focused pools to gain more rewards. Users are able to withdraw their token. 4)[Staking Boost]: Convex launched a boosted Frax staking for the following pools: Vesper Orbit FRAX, aFRAX, and FPI/FRAX. Frax LPs stakers can enjoy socialized and simplified boosting mechanics for their LP positions when staked on Convex Finance. 5)[Update]: We migrated the Fraxswap TWAMMs to the post-audit code and new pools with increased liquidity were launched. Also a new frontend will be deployed shortly. Moonbeam will be the first non-Ethereum chain to be seeded with POL 6)[Farming]: FRAX-IQ pool was unlocked and transferred to the FXS gauge system as per the governance vote. The LP was unlocked and staker...
Frax Finance Weekly Report #15 | May 2022.
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Exchange]: Both $FRAX & $FXS went live on OpenOcean to swap on multiple chains. Users can trade their $FXS & $FRAX on any of their favorite chains at best rates on https://openocean.finance/ 2)[Pool]: The Alternative Pool went live on Platypus which included $FRAX. Users can use its profitable dynamism, either for swapping or staking on the Platypus app. 3)[Poll]: Frax made it to the top result of the Bankless poll, to choose which project to cover on their next Alpha Leak episodes. 4)[Collateral]: Frax is exploring real-world loans as a hedge against crypto market downturns in order to maintain FRAX’s peg during a bear market. 5)[FPI & FRAXSWAP]: FPI and Fraxswap were launched, with a mint cap which was set at 15m FPI and was later increased to 20m FPI. veFXS, cvxFXS tFXS & FXS-FRAX holders during snapshot were able to claim their FPIs airdrop. Convex also provided a portal for the cvxFXS holders to claim their airdrop. FPI and FPIs were listed on coingecko! Guide on how to Mint/Redeem FPI Stablecoin and how to use AMM/TWAMM on FraxSwap 6)[Zk Privacy]: An experimental version of Tornado Cash purpose-built for the FRAX ecosystem by Twister Cash. 7)[Hidden Hand]: Hidden Hand v2 went live on mainnet by Redacted which includes FRAX. Frax Finance, Ribbon Finance and Balancer were hosted on Twitter Space to discuss the Hidden Hand. Also...
Guide : How to use AMM/TWAMM on FraxSwap.
Guide : How to use AMM/TWAMM on FraxSwap. In this guide we will explain how to use FraxSwap AMM/TWAMM functions. 1- How to buy FRAX & FPI Stablecoins? Connect your MetaMask extension to UNISWAP then purchase the desired amount of FRAX or FPI using the link below: https://info.uniswap.org- How to swap your tokens using AMM on FraxSwap? Head to FraxSwap main page here https://app.frax.finance/fraxswap and connect your MetaMask: You will arrive at this page: Now you have connected your MetaMask wallet:Click on “AMM”: Click on “Select Token”:Here we will be selecting FRAX:Select the token of your choice you will like to swap with FRAX.Here we will be swapping FRAX for FPI:Enter your desired amount of FRAX you will like to swap for FPI:Click on “SWAP”:A MetaMask transaction will pop-up to approve your spending.Click on “Confirm”:Another MetaMask transaction will pop-up.Click on “Confirm”:A “Processing Swap” notification will appear, wait for your transaction to be processed.Congratulations you have successfully swapped your FRAX for FPI.3- How to swap your token using TWAMM on FraxSwap?Head to FraxSwap main page here https://app.frax.finance/fraxswap and connect your MetaMask. You will arrive at this page:Click on “TWAMM”:Here we will be swapping FPI for FRAX.Enter your desired amount of FPI you want to Swap with “TWAMM” function:Click to select your desired “Swap Period”. (Note: I...
Guide : How to Mint/Redeem FPI Stablecoin on FraxSwap.
Guide : How to Mint/Redeem FPI Stablecoin on FraxSwap. In this guide we will explain how to use FraxSwap Mint/Redeem FPI functions.1- How to buy FRAX & FPI Stablecoins?Connect your MetaMask extension to UNISWAP then purchase the desired amount of FRAX or FPI using the link below: https://info.uniswap.org/#/pools/0xd2a9f2b88d6df8830522d624db491445362a27972- How to use the Mint FPI Function on FraxSwap?Now you have FRAX in your MetaMask you will need to Mint FPI.Head to FraxSwap main page here and connect your MetaMask : https://app.frax.finance/fraxswapYou will arrive at this page :Click “Mint FPI”.Choose the amount of FRAX you want to use to mint FPI.Click “MINT”.A MetaMask transaction will pop-up to approve your spending “Confirm” it.Another a MetaMask transaction will pop-up “confirm” it.Congratulations you have successfully Minted FPI stablecoin.3- How to use the Redeem FPI Function on FraxSwap?Now you have FPI in your MetaMask you will need to Redeem it.Head to FraxSwap main page here and connect your MetaMask : https://app.frax.finance/fraxswapYou will arrive at this page :Click “Redeem FPI”.Choose the amount of FPI you want Redeem.Click “REDEEM”.A MetaMask transaction will pop-up to approve your spending “Confirm” it.Another a MetaMask transaction will pop-up to redeem your FPI “confirm” it.Congratulations you have successfully Redeemed FPI stablecoin.About Frax Finance Fra...
Frax Finance Weekly Report #14 | April 2022.
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Code Review]: We entered into the upcoming Frax Price Index (FPI), Fraxswap and Fraxlend code review. We released the FPI & FPIS, FraxSwap/TWAMM, FPIControllerAMO (used to stabilize the FPI peg to the CPI oracle) and CPITrackerOracle codes for the community to investigate them. 2)[Partnership]: SynFutures Partners with Frax Finance to Expand Trading Opportunities. Frax Finance will bring liquidity for $FRAX trading pairs to SynFutures protocol and contribute to a Matic-Frax pool on Polygon. 3)[Exchange]: $FXS was listed on DigiFinex exchange. Users can register and trade their FXS token on DigiFinex exchange 4)[Collaboration]: Citadel DAO, a treasury DAO set on becoming the largest community owned BTC position in the world, announced Frax Finance as one of their knight of Citadel. 5)[Partnership]: Concave officially partnered with Frax Finance. Concave adopted $FRAX as one of its treasury assets, also users can use $FRAX to purchase bonds. The Frax and Concave team had a dedicated AMA on Monday, 28th March, 11am EST. 6)[Staking]: StakeDAO launched their Liquid Lockers + veSDT. Users can deposit their $FXS token in the Liquid Lockers to unlock the voting power of the underlying veTOKEN like veFXS. 7)[Exchange]: FTX exchange listed $FXS token on its spot and perpetual futures! Users can deposit and trade their $FXS on FTX exchange. 8)[Exchange]: $FX...
More Frax (#FRAX) News
|TribeDAO Holds Vote to Repay Rari Capital Hack Victims for the Fourth Ti...
In the wake of yet another exploit back in May, which cost Rari Capital upwards of $80 million, members of TribeDAO – a DeFi megaDAO that has Rari Capital as a part of its ecosystem – have voted to restore all funds to affected users.
This was the fourth consecutive voting after the hack, but it was slightly different than the previous ones.
Last in a Series of Votes
1/ The Rari Fuse Hack Payment has passed on-chain to FULLY pay the victims in 24 hours.
This is a big moment in these final governance decisions of the Tribe DAO.
— Joey ’s ERC-4626 (@joey__santoro) September 19, 2022
The vote passed with 99% in favor of the proposal and 1% against it. However, this is the 4th time the proposal has been voted on, which casts doubt whether the outcome will bring relief to those affected.
The first vote, which took place shortly after the hack tore into Rari Capital’s lending pools, was also overwhelmingly in favor of a payout to those affected. At the time, markets were still somewhat stable, and Rari reportedly had more than enough to repay victims without taking too big of a hit.
Unfortunately, spring made way for summer and took a large share of the crypto market, prompting those in charge of the protocol governance to hold a second vote, effectively annulling the previous one.
This second was promptly vetoed by Jack Longarzo of Rari and TribeDAO, allegedly due to the payout method to be used being “unclear.” A third vote was held sh...
|Stablecoin Economy Growth Stagnates for 73 Days, USDC Market Cap Slides ...
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. For More Than 2 Months Stablecoin Market Caps Stagnate Seeing Little Growth
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 ...
|Harmony Bridge Hacked, $100 Million Worth of Ethereum Lost
On the 24th of June, the Horizon bridge connecting Harmony – a Layer-1 PoS blockchain built for native token ONE – to the Ethereum and Binance Chain ecosystem was hacked, leading to a loss of approximately $100 million in ETH. The exploit was announced on Twitter by the Harmony team, who stated that they are hunting for the culprit.
The Latest in a Series of Vulnerabilities
1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.
— Harmony (@harmonyprotocol) June 23, 2022
The bridge has since been shut down to prevent further losses. Harmony devs have also clarified that the BTC bridge is unaffected.
The attack appears to have taken place over the span of 17 hours, starting with a transaction worth a whopping 4,919 ETH, followed by several smaller transactions ranging from 911 to 0.0003 ETH. The last one took place after the bridge had been shut down.
The hack is the latest in a series of exploits affecting the crypto space, such as the Axie Infinity drain, Solana Wormhole, or, more recently, the (misplaced) Optimism fiasco. Another recent vulnerability, the Demonic exploit, which affected multiple crypto wallets, was patched before any damage could be done.
Exchanges have reportedly been notified, as well as “national authorities and forensic specialists.&rd...
|ViaBTC Capital | After UST's Fall, Can NEAR's Stablecoin USN...
In May 2022, UST and LUNA, which once recorded a total market cap of over $40 billion, collapsed overnight, and plenty of users suffered huge losses as a result. Following the crash, algorithmic stablecoins have once again become a popular crypto topic. USN, a stablecoin native to an emerging public chain named NEAR, was launched almost at the same time as UST collapsed. The fall of UST showed this nascent stablecoin how the death spiral of an algorithmic stablecoin can engulf and destroy everything like a terrifying black hole, and users also wonder whether USN could avoid a similar ending in the future.
As the first NEAR-native algorithmic stablecoin, USN is soft-pegged to the US Dollar and backed by a Reserve Fund that contains collaterals such as NEAR and USDT. USN is positioned to be an effective way to bootstrap liquidity in the NEAR ecosystem while adding a new layer to NEAR’s utility as a token. USN’s core stability mechanisms consist of on-chain arbitrage and the Reserve Fund based on the Currency Board principle. Decentral Bank (https://decentral-bank.finance/), the DAO developing and supporting USN, manages the smart contracts of $USN and its Reserve Fund. The DAO can vote to stake the NEAR from the Reserve Fund and distribute the staking rewards to the users of protocols that integrate USN.
USN’s issuance mechanism
The initial supply of USN is double-collateralized by NEAR and USDT via the Reserve Fund. Decentral Bank issues ...
|Stablecoin Market Nears 15% of the Entire Crypto Economy's Market ...
Roughly two months ago on April 11, the stablecoin economy was valued at $190 billion and was getting closer to surpassing $200 billion in value. However, after the Terra stablecoin fallout, the fiat-pegged token economy lost $16.31 billion in value since then. While that value was erased from the stablecoin market, stablecoins themselves represented 9.35% of the entire crypto economy's net U.S. dollar value at the time. 61 days later, the crypto economy is worth roughly $1.15 trillion and the stablecoin economy represents 13.8% of that total today.In 61 Days, Stablecoin Dominance Swelled From 9% to 13.8%
For the first time in history, three stablecoins were top ten digital currencies in terms of market valuation 36 days ago on May 6, 2022. At the time, it was tether (USDT), usd coin (USDC) and terrausd (UST), but that was before the UST implosion.
While terrausd is gone, there's still three stablecoins in the top ten today, as binance usd (BUSD) is the seventh-largest crypto asset as far as market cap is concerned. Two months ago on April 11, the stablecoin economy was valued at $190 billion but today, the valuation of the stablecoin market is now $159 billion.
On that day in April, the entire crypto economy was valued at $2.03 trillion and today it's worth roughly $1.15 trillion. Even though Terra's UST fallout saw billions leave the stablecoin economy, it dominates by a lot more than it did when it was nearing $200 billion.
Stablecoins account for whole lot of trade volu...
|ViaBTC Capital?The Collapse of LUNA
Timeline of the Collapse:
-In the early morning of May 8, to prepare for the 4Crv Pool, Luna Foundation Guard (LFG), a Singapore-based non-profit that maintains the Terra network, removed $150 million worth of UST from the UST-3Crv Pool. At this time, the TVL of the pool was around $700 million. In other words, it cost only about $300 million to drain this pool.
- To keep the balance of liquidity in the UST-3Crv Pool, LFG removed another $100 million worth of UST from the pool.
- On the evening of May 8, WhaleTrades, a whale alert account on Twitter, began to “ring alarm bells” frantically: there was a tweet of selling millions of dollars’ worth of UST every hour.
- On the morning of May 10, Jump Trading and LFG may have sensed the problem and stopped selling their Bitcoin holdings to provide support for UST’s peg, letting things drift. As a result, UST plummeted all the way to $0.6.
- On May 11, UST seemed to be shorted by Soros-style short sellers, and has plummeted to a minimum of $0.2998 (source: CMC) after rounds of underselling.
It was a terrifying day on May 11: there seemed to be short sellers deliberately shorting UST and LUNA:
- While liquidity is being withdrawn from the UST-3Crv Pool as reserves for the 4Crv Pool, a single wallet dumped $350 million worth of UST on Curve, making UST lose its peg to the US dollar. In response, LFG sold BTC to keep the peg, and then the short seller dumped the rest UST on Binance.
- UST was seriously depeg...
|Dragonfly Capital Launches $650M Venture Fund
The crypto-focussed investment firm Dragonfly Capital has announced closing its third fund with $650 million in capital. Some of the limited partners were Tiger Global, KKR, Sequoia China, Ivy League endowments, Invesco, and Top Tier Capital Partners, among others.
Dragonfly Fund III
Dubbed 'Dragonfly Fund III,' the fund's valuation is twice that of the previous two, which totaled $300 million combined. According to the filing with the US Securities and Exchange Commission earlier this year, Dragonfly Capital initially intended to raise $500 million.
The focus areas of the firm's third fund will be across all the stages of blockchain and crypto companies, protocols, and tokens that aim to develop 'new digital economies.' Additionally, the new initiative is expected to enable Dragonfly Capital to lead rounds in later-stage companies.
Its managing partner, Haseeb Qureshi, revealed that the firm plans to invest in several burgeoning sectors. These include play-to-earn gaming, decentralized autonomous organizations (DAOs) infrastructure, and web3 developer tooling, in addition to decentralized finance (DeFi), smart contracts, non-fungible tokens (NFTs), and the metaverse.
Qureshi also said,
'The next generation of startup founders are now emigrating from web2. (Welcome!) The L1 wars are heating up, the race to build the metaverse is on, DeFi is maturing, crypto gaming now seems inevitable, and the financial infrastructure is institutionalizing. There’s so, so much to build,...
|Bitcoin Under Pressure Near $40K, Here Are 2 Reasons Why That Could Chan...
Bitcoin remains rangebound in the high $30,000 to low $40,000 areas. Source: BTCUSD Tradingview
Trading firm QCP Capital believes Bitcoin has been trading in a larger range as it reclaimed the area around its current levels. The firm claims that there are 2 main reasons behind BTC’s recent price action.
In addition to the U.S. Federal Reserve (FED) hinting at an aggressive monetary policy, there are expectations of Bitcoin and Ethereum revisiting critical support at $30,000 and $2,500, respectively. These expectations were generated by former BitMEX CEO Arthur Hayes's latest post, “The Q Trap”.
In the options markets, traders are preparing for a potential drop as QCP Capital records a “massive selling of May and June calls, causing BTC and ETH risk reversal”. These levels dropped from negative 6% to negative 10%.
Conversely, the demand for BTC and ETH puts has increased. In other words, traders seem to be hedging for the upcoming crash by buying put (sell) options. If the price crashes, they will be able to benefit.
Ethereum has seen the biggest uptick in demand for put calls. QCP Capital attributed it to the delay of “The Merge”. The event is set to combine Ethereum’s execution layer with its consensus layer and make ETH 2.0 fully operational.
Bitcoin Finds Bottom With Stablecoin Craze
Bitcoin’s recent price action characterized by low volatility could also be the result of the popularization of algorithmic stablecoins, Q...
|Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Mark...
The stablecoin economy has grown during the last month as the market capitalization is now only $10 billion away from reaching the $200 billion mark. While the largest stablecoin, by market valuation, tether (USDT) swelled by 3% during the last 30 days to $82 billion, terrausd (UST) has increased by 15.4% to $16.7 billion.Stablecoin Economy Swells by 1.65% in 30 Days Nearing the $200 Billion Milestone
According to statistics on Monday, April 11, 2022, the stablecoin economy is worth $190.1 billion. During the last 24 hours, stablecoins have captured $68 billion in trade volume out of the aggregate of $107 billion worth of today's global trade volume. The largest of the bunch is tether (USDT) and over the last 30 days, USDT increased by 3%. Tether now holds an $82.6 billion market valuation which represents 4.21% of the entire crypto economy.
The second-largest stablecoin usdcoin (USDC) saw a decline over the last month dropping 2.9%. BUSD also dropped during the last 30 days, losing 1.2% during the timeframe. The fourth-largest stablecoin, in terms of market capitalization, terrausd (UST) spiked by 15.4%. UST's market capitalization on Monday is $16.7 billion or 0.85% of the entire crypto economy's current value at $1.96 trillion.
Makerdao's DAI is the fifth largest stablecoin today with $8.9 billion, but during the last 30 days, its market valuation slid by 4.9%. Neutrino USD (USDN) has been having troubles in recent times keeping the $1 peg, but it's market cap over the la...
|Stablecoin Economy Nears $200B, UST Supply Jumps Higher, USDN Spikes 43%...
During the last 12 months the stablecoin economy has grown massive and the current valuation today is only $13 billion away from tapping the $200 billion mark. This month, the two biggest gainers in terms of 30-day issuance include Terra's UST jumping 29.9% and Neutrino Protocol's USDN spiking 43.8%.Stablecoin Market Capitalization Continues to Swell, Tether Crosses $80 Billion
Monthly statistics show the largest stablecoin in terms of market capitalization, tether (USDT), increased by 2% this month as the valuation crossed the $80 billion mark. USDT is massive compared to the rest of the stablecoins in the crypto economy as its valuation represents 42.78% of the $187 billion stablecoin economy today.
Furthermore, tether's $80 billion market capitalization equates to 4.46% of the entire $1.83 trillion crypto economy. The second-largest stablecoin in terms of market capitalization, usd coin (USDC) only increased by 0.3% this past month.
USDC has a market valuation of around $52.3 billion today which equates to 2.92% of the crypto economy and 27.96% of the stablecoin economy. Metrics on March 14, 2022, indicate that between USDC and USDT, the market capitalizations combined equate to more than 70% of the entire stablecoin economy.
The top assets exchanging hands with tether (USDT) is the U.S. dollar with 42.16% of today's share and the Turkisk lira (TRY) with 17.41% of tether trades. TRY is followed by the euro, WBNB, and HUSD. USDC trades a lot with tether as USDT represents ...
|Blindex: Building a Currency-Blind DeFi Platform For Traders
With the current growth of the Decentralized Finance (DeFi) space, it is pretty difficult to imagine a crypto world without DeFi. At the time of writing this line, there were over 500 DeFi protocols in the market, and the number is expected to rise as the DeFi space continues to flourish. Most of these projects aim to address the shortcomings of the traditional financial system while providing multiple earning opportunities for users.
But since cryptocurrencies are volatile and fiat currencies are unequal, DeFi users and Forex traders need protection against market risks as they try to optimize their profits. Sadly though, only a handful of DeFi projects offer such solutions.
However, a new DeFi protocol has emerged to disrupt the traditional financial system and stabilize fiat currencies to protect and provide complete decentralization to users.
What is Blindex?
Blindex is a leading multi-currency stablecoin DeFi platform that seeks to stabilize global fiat currencies in its quest to completely decentralize traditional financial systems. The open-source protocol aims to become the future of Forex and the first multi-currency fractional-algorithmic stablecoin protocol.
The project is committed to providing global users with access to a trusted financial management platform that is fully decentralized. It has combined several innovative and familiar concepts to develop its one-of-a-kind ecosystem.
The protocol aims to create a set of stablecoins known as BD-Stables equipped wi...
|Stablecoin Economy Grows Close to 10% Larger in 54 Days — GUSD, BU...
At the end of December 2021, the stablecoin economy's market valuation was around $168.3 billion and since then, it has increased 9.92% to $185 billion in value. A number of stablecoins have issued more assets during the last seven days, as some of the top dollar-pegged coins have swelled by more than 20% since the past week.Stablecoin Economy Continues to Grow
As cryptocurrencies have dropped in value during the last two weeks and the crypto economy fell below the $2 trillion range, stablecoins issuance continues to fill demand. At the time of writing, the entire stablecoin economy is valued at $185 billion and it increased by 9.92% since December 30, 2021. The current value of all the stablecoins in existence today, represents 10.41% of the $1.77 trillion crypto economy. Moreover, the trade volume stablecoins are seeing on February 22, 2022, is around $62.7 billion, which equates to 61.47% of today's crypto trade volumes worldwide.
While tether (USDT) is the largest stablecoin, in terms of market capitalization, the $79.6 billion dollar cap only increased by 1.3% this past week. On the other hand, usd coin's (USDC) market capitalization swelled by 21.6% and BUSD's cap grew by 27.9%. Terra's UST has seen issuance increase by 11% and Makerdao's DAI spiked by 6.1%. The Avalanche-based magic internet money (MIM) saw its market capitalization fall by a whopping 40.6% during the last seven days.
Variety of Stablecoin Market Caps Declined, Tether Commands 84% of Today's Stablecoi...
|Market Watch: Bitcoin Plummets to a 2-Week Low at $38K
Bitcoin's troubles only intensified in the past 24 hours as the asset dropped by a few thousand dollars again to a 16-day low of $38,000. The altcoins are deep in the red as well, with Ethereum at $2,600, Cardano well below $1, and AVAX beneath $80.
Bitcoin Dumps Again
It's safe to say that bitcoin has seen better days which weren't all that long ago. Just on Tuesday and Wednesday, the cryptocurrency recovered from its latest dump to $42,000 and jumped to nearly $45,000.
However, it failed to continue upwards as the bears came out to play. In a matter of hours, they pushed the asset south, and BTC found itself struggling to remain above $40,000.
Although initially it managed to maintain that level, the bears kept the pressure on and drove it below it for the first time since early February, as reported yesterday. The landscape worsened in the following hours, and bitcoin dropped to just over $38,000, which became the new lowest two-week price point.
As such, bitcoin's market capitalization has declined to $725 billion after nearing $850 billion days ago.
BTCUSD. Source: TradingView
Altcoins Bleed Out
The alternative coins suffered yesterday, and the trend continues today. Ethereum has dropped by another 6.5% on a daily scale and struggles to remain above $2,600. It's worth noting that the second-largest cryptocurrency stood above $3,200 earlier this week.
The situation with the rest of the larger-cap alts is somewhat similar. Binance Coin has slipped below $380 after a 6.5% d...
|Stablecoin Economy Continues to Balloon as USDC's Market Cap Cross...
As the entire lot of 12,333 digital currencies hovers just above $1.8 trillion in value, the stablecoin economy has recently swelled to $178.8 billion or 9.9% of the entire crypto economy. Out of the top five stablecoins, usd coin (USDC) saw its market capitalization jump the most, increasing 18.9% during the last 30 days. The 18.9% increase has pushed USDC's market capitalization above the $50 billion mark.
USDC Market Cap Rises Above $50 Billion, Stablecoin Represents 2.83% of the Crypto Economy's USD Value
Stablecoins continue to grow in 2022, as numerous fiat-pegged token projects have seen their issuance levels increase during the first month of the year. At the time of writing, the USD value of all the stablecoins today is $178.8 billion.
Tether (USDT) is the largest stablecoin project in terms of market capitalization, with a valuation of around $78.5 billion. USDT's overall valuation represents 4.34% of the entire crypto economy's $1.8 trillion. Tether, however, saw no growth during the last month as the overall valuation has remained static.
USDC, on the other hand, has grown 18.9% over the last 30 days and the market valuation is now over $50 billion. USDC's market capitalization is 2.83% of the entire crypto economy's USD value.
Both USDT and USDC combined represent 7.17% of the fiat value of all the coins in existence today. While these caps are much smaller than bitcoin's (BTC) 39.2% dominance and ethereum's (ETH) 17.7% dominance, they still represent the third ...
|Stablecoin Issuance Surged Last Year — UST Saw the Largest 12-Mont...
Stablecoins have become prominent payment rails in the world of cryptocurrencies commanding $177 billion in fiat value today. The top ten stablecoins by market capitalization represent the largest share of the value in the fiat-pegged coin economy and many of these tokens grew exponentially last year. Terra's UST stablecoin grew the most last year, jumping 5,431% in 2021.
A Deep Dive Into Stablecoin Growth During the Course of 2021
Stablecoins today represent 9.77% of the $1.8 trillion crypto-economy today which is $177 billion in USD value. While many digital assets surged in growth last year, stablecoins also saw their market valuations swell as issuance grew month after month.
Tether (USDT) is the top stablecoin, in terms of market capitalization with $78.3 billion. USDT alone represents 4.32% of the entire crypto economy's $1.8 trillion and amid the $177 billion stablecoin economy, USDT towers over the pack by 44.24%.
On January 2, 2021, tether (USDT) had a market cap of around $21.2 billion and by January 2, 2022, this grew by 269.81% to $78.4 billion. Usd coin (USDC) once had a market cap of $4.1 billion on January 1, 2021, and approximately 12 months later it grew 936.58% to $42.5 billion.
The third-largest stablecoin binance usd (BUSD) had a market valuation of around $1.07 billion on the first of the year in 2021, and on the first day of 2022, it was $14.4 billion seeing a 1,245.79% increase.
Terra's UST stablecoin grew by 5,431.22% in 12 months from $182.6 million...
|Crypto.com Adds Jon Russell As Asian Based General Partner
The Singapore-based company, Crypto.com, has hired the former TechChurch and The Ken reporter, Jon Russell as their Asian-based general partner. And with this new development, they hope to expand Fund further.
Crypto.com's $200 million Web 3 fund came into existence in March 2012. As of Monday, intending to expand via the venture arm of investing in Series A stages, project at seed and crypto startups, has grown expectedly.
Russell, during an interview, made known that the fund is believed to rise to double its current size and will be announced in a few days.
Crypto.com is still hiring GP's, but with the help of Russell, the fund's acknowledgment will extend to that Asia-based project. Though Bobby Bao, Crypto.com co-founder, currently runs the fund.
Things To Know About Jon Russell
Jon Russell is a Uk citizen based in Bangkok. He has lived in Thailand since 2008. In 2014 Jon Russell became a reporter for TechChurch focused on all tech-related issues in Asia. Especially all the major names in India, China, and Southeast Asia.
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With this, he changed the daily life of people across Asia. And his knowledge and influence in the tech and crypto field are precisely one of the reasons Crypto.com has hired him as one of their General partners in Asia.
Crypto.com Expansion in Asia
The Capital prior investment of Crypto.com comprises liquidity provider Woo Network and the first fractional-algorithmic stab...
|Stablecoin USDC's ERC20 Issuance Surpasses USDT's Total Supp...
On Saturday, January 15, 2022, the market capitalization of all the stablecoins in existence is $173 billion, which represents 7.93% of the $2.18 trillion crypto-economy. The market valuations of stablecoins tether and usd coin represent 71.84% of the entire stablecoin economy's value. This week, the current total supply of usd coin surpassed tether, in terms of tokens issued on the Ethereum blockchain, as usd coin has a 0.568% larger fully diluted market capitalization on the smart contract network.
USDC Issuance on Ethereum Surpasses Tether's ERC20 Supply
The current total supply of the stablecoin usd coin (USDC) on the Ethereum blockchain is over 40 billion units, which is higher than the number of tether (USDT) on the chain. At the time of writing, according to etherscan statistics, the current supply of USDT is 39.8 billion units. While there's only 0.568% more USDC tokens than the number of tethers in circulation, it's the first time USDC has overtaken USDT in terms of Ethereum issuance.
While tether has seen 136,448,792 transfers total on the ETH chain, USDC has only seen 33,104,877. Essentially, ERC20 tethers have been transacted with 312.17% more than USDC tokens have been transferred. Tether also has a lot more USDT tokens across multiple blockchain networks with a current total supply of 79 billion tethers.
USDC is also on a few different blockchains, but the majority of USDC resides on Ethereum. USDC has a current total supply of 45.3 billion, which means 5.3 bi...
|Expanding Crypto Market Caps by 500% to 1,300%: Stablecoin Issuance Saw ...
As crypto-assets grew immensely in value last year, the growth of the stablecoin economy swelled as well and today, there's $170.24 billion worth of stablecoins in circulation. Data indicates that over the last 12 months, a slew of stablecoin valuations grew exponentially.
12-Month Stats Show Stablecoin Market Valuations Saw Massive Growth
Last year, numerous crypto assets touched all-time high (ATH) prices as current data highlights the crypto economy's significant growth in 2021. Moreover, fiat-pegged tokens, commonly referred to as stablecoins, have also seen massive growth as centralized custodians and decentralized protocols have issued billions of tokens since last year.
For instance, on January 11, 2021, tether's (USDT) market cap was $24.4 billion and it has grown 221.31% since last year. Usd coin (USDC), the second-largest stablecoin asset in terms of market valuation, had a market cap of $4.4 billion on the same day last year. Today, USDC's market cap is $43.9 billion, which is an increase of 897.72%.
The stablecoin issued by Binance (BUSD) only had a $1 billion market cap a year ago and now it's $14 billion, increasing 1,300% this past year. Terra's stablecoin UST had a market valuation of $138 million on January 11, 2021, and today the market cap is $10.5 billion.
Over the Last Year, Fiat-Pegged Token Market Caps Jumped Higher Than Most Crypto Gains
Makerdao's DAI token went from $1.3 billion to today's $9 billion as it grew 592.30% over the last year. MIM, othe...
|Terra Proposal Seeks to Expand UST Stablecoin to 5 Different Defi Protoc...
On January 6, Terra Research announced a proposal to expand the network's stablecoin asset terrausd (UST) across a number of different protocols on Polygon, Ethereum, and Solana. Terra's governance blog post discusses how the proposal to leverage $139 million of UST can bolster 'awesome use-cases' in the world of decentralized finance (defi).
Terra Research Proposes to Expand Terrausd's Reach Across 5 Protocols
At the time of writing, Terra's terrausd (UST) stablecoin is the fourth-largest U.S. dollar-pegged token among all the stablecoins in existence. It is also the largest decentralized algorithmic dollar-pegged coin with $10.4 million in UST in circulation today. Furthermore, the stablecoin's market capitalization has increased 21.4% during the last 30 days. Now the team behind the Terra network wants to increase the stablecoin's exposure to five different defi protocols on three chains.
The proposal's author, Ezaan from Terra Research, explains how cross-chain UST liquidity has grown a great deal and he thinks that adding more UST to specific protocols will add 'awesome use-cases' to defi. The first UST collaboration mentioned is with the Olympus DAO on Ethereum, Solana, and Polygon. Essentially, Ezaan wants to enable UST bonds and bond $1 million UST in Olympus forever.
'Follow up posts in the Agora thread including when UST bonds are live,' Ezaan said. '1m bond transaction, bi-weekly updates on UST in the Olympus DAO treasury for two months, all three pair addresses wh...