MakerDAO votes to decrease GUSD held in DAI stablecoin reserve
MakerDAO could soon remove $390M of Gemini’s GUSD stablecoin from its reserves. The DAO is currently voting to decrease the maximum amount of GUSD held in Maker’s DAI stablecoin reserve to $110M. MakerDAO’s reserve currently holds roughly 88% of total GUSD supply. MakerDAO, a decentralized lending platform and DAI stablecoin issuer may soon sell $390 […]
MakerDAO proposal eyes new DAI savings rate of 3.33%
MakerDAO is considering a proposal to raise the Dai savings rate (DSR). This follows the last change that saw DSR increase to 1%, attracting over 35 million DAI deposits in a month. If approved, the latest proposal would see the DAI savings rate increase from the current rate to 3.33%. MakerDAO, the decentralized finance (DeFi) […]
Bitcoin, Ethereum bears are back in control, two derivative metrics suggest
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern.This post was originally published on this site
Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31
While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four […]
DAI whales have added 6.4% of stablecoin’s supply since mid-March
DAI stablecoin holders are adding to positions as crypto prices range. Addresses with 100k-10 million DAI added 6.4% of supply in the past six weeks. The overall holdings for this cohort had dropped significantly as Bitcoin and Ethereum prices pumped in mid-March, Santiment data shows. On-chain data shows large investors, the sharks and whale addresses […]
Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction
Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is […]
With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021
Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. […]
Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses
On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and seized various crypto tokens, such as 7,460 wrapped ether and 64 wrapped bitcoin. While the Mechanisms Behind […]
Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. […]
Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen
General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able […]