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Fiat-backed crypto booming amid uncertainty By Cointelegraph

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Stablecoins race ahead: Fiat-backed crypto booming amid uncertainty

Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board. While some attribute this growth to the booming interest in decentralized finance among crypto enthusiasts, others see it as a bullish trend that confirms the inflow of fiat currency to the crypto ecosystem.

As the DeFi sector keeps growing, so too does the popularity of stablecoins, used to gain high returns from various decentralized lending projects. Stablecoins are also useful for their ability to bridge the gap between fiat currencies and digital assets. Stablecoins started off the year on a high note, as their cumulative transactional volume surpassed the $90 billion mark in a financial quarter for the first time ever. Although Tether (USDT) still holds the lion’s share of the stablecoin market, Dai and USDC indeed saw growth during 2020.

Tether (USDT)

USD Coin (USDC)

Paxos Standard (PAX)

Binance (BUSD)

TrueUSD (TUSD)

XSDG Stablecoin

Saga (SGA)

EURS

Monerium

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Cryptocurrency

Traders on Paxful sell $16.2M of Bitcoin for discounted gift cards each week By Cointelegraph

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Traders on Paxful sell $16.2M of Bitcoin for discounted gift cards each week

A report published by Arcane Research has revealed that nearly half of Paxful’s trade volume comes from trade between (BTC) and gift cards.

The report found that, “purchasing Bitcoin with gift cards has been the preferred solution on Paxful each month throughout the five-year span analyzed,” and in June accounted for 48% of Paxful’s volume.

Regional dominance over P2P Bitcoin volume: Arcane Research

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Cryptocurrency

The unluckiest DeFi protocol? A personal take on bZX’s tumultuous year By Cointelegraph

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The unluckiest DeFi protocol? A personal take on bZX’s tumultuous year

Decentralized finance platform bZX has frequently been in the spotlight this year, only not for the right reasons. Most DeFi platforms popular today, including bZX, began their journey around 2018, at the tail-end of the initial coin offering boom. In 2019, DeFi started gaining traction, though it was still a somewhat ignored sector of the industry.

As growth continued, suspicions began to rise that major hacks, typical of the digital asset sector, were overdue. Due to the complexity and novelty of these platforms, it was reasonable to assume that not all of them were impervious to bugs.