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Ethena Labs, the developer of the Ethereum-based synthetic dollar protocol, has announced the launch of UStb, a new fiat stablecoin. Backed by the BlackRock USD Institutional Digital Liquidity Fund (BUILD) and in partnership with Securitize Markets LLC, UStb offers a distinct alternative to the existing USDe stablecoin.
Markus Thielen, the Head of Research at 10x Research, savvy traders are shifting their focus from Bitcoin to promising altcoins, and you might want to pay attention. Recent trends show that trading volumes for altcoins have surged as traders look for high-risk, high-reward opportunities amidst changing market dynamics.
Binance founder and former CEO Changpeng Zhao (CZ) is set for imminent release, confirmed by the US Federal Bureau of Prisons (BOP).
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
Binance has announced that it will be delisting a number of spot trading pairs. The reason for this is Binance's evaluation of all listed spot trading pairs on a regular basis, analysis of their performance and liquidity.
Data from Token Unlocks revealed that four major token unlocks were scheduled for August between the 19th and the 25th. According to Token Unlocks, 54 million PIXEL and 9.54 million AVAX would be released on August 19, while 18.94 million ID and 14.89 million ENA would be released on August 22 and August 25, respectively.
It was a sea of red in the cryptocurrency market on Aug. 16 as Bitcoin dropped below the key support level of $58,000. Most altcoins were deep in the red, remaining in a bear market.
Cryptocurrency prices held steady on Wednesday as a sense of calm returned in the market after the encouraging US Producer Price Index (PPI) report. Bitcoin, the biggest crypto in the industry, crossed the important resistance point at $60,000 while the market cap of all tokens jumped to over $2.14 trillion.
With the BTC price hovering close to its $59,000 mark, the crypto market has displayed stability in the buying and selling pressure. This indicates a high possibility of a bullish rebound in the coming time.
Ethena, Pepe and Luna Classic are our top cryptocurrencies to watch this week.
Solana's doing well on the price front, but there may be more good news.
Ethena Labs has announced the launch of its stablecoin, USDe, on the Solana network as of August 7.
USDe was made available on Solana and became integrated with multiple Solana-based DEXs and DeFi protocols, including Kamino, Orca and Drift.
On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin's reserve backing.
Ethena Labs has expanded its “synthetic dollar” USDe to the Solana blockchain and revealed intentions to add the SOL token as a backing asset for the stablecoin, according to an Aug. 7 statement. USDe's integration with Solana was achieved through LayerZero's omnichannel fungible token (OFT).
TL;DR Ethena Labs has integrated its synthetic stablecoin USDe into the Solana blockchain, aiming to overcome challenges associated with stablecoins and provide a robust and decentralized alternative. USDe is a crypto-native synthetic asset that stands out from traditional stablecoins due to its scalability and censorship resistance.
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Ethena Labs has announced the expansion of its USDe stablecoin to the Solana blockchain. This strategic integration not only broadens USDe's reach but also introduces a novel approach to stablecoin mechanics in the rapidly evolving world of decentralized finance.
This move advances stablecoin evolution and showcases Ethena Labs' commitment to solving key crypto challenges. USDe, Ethena Labs' synthetic dollar, is designed to offer a scalable and censorship-resistant alternative to traditional stablecoins.
The company said it's confident the Solana integration will significantly increase adoption of its USDe stablecoin.
The market leader, Bitcoin price has recorded a correction of over 2% within the past day. On the other hand, the altcoin leader, Ethereum price has displayed a positive price action by adding approximately 0.10% with a trading volume of $15.304 Billion.
It was a sea of red in the crypto industry on Friday after Bitcoin price dropped below the crucial support of $55,000.
Venture capitalists have been reaping massive gains on a select group of altcoins. However, recent indicators suggest that these investors may be considering selling their holdings soon.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
