Track Archives -
Tekashi69’s got a new banger just begging to be heard, but a Danish rapper claims his label’s stonewalling it and screwing him over … so he wants a judge to step in and help him out. According to new legal docs — obtained by TMZ — Tekashi struck…
A famed California track has suspended horse racing indefinitely after the 21st death of a horse in 10 weeks. A 4-year-old filly named Lets Light the Way had to be euthanized at Arcadia’s Santa Anita Park on Tuesday after injuring her front right leg in training. Another eight horses have…
Technology and healthcare companies led U.S. stocks higher Friday, erasing some of the market’s losses from the prior day and placing the benchmark Standard & Poor’s 500 on track for its fourth weekly gain in a row.
The broad rally came as investors weighed a mixed batch of corporate earnings reports.
Ruth Bader Ginsburg has been home for more than two weeks recuperating from surgery that removed two cancerous growths on her lung. This has sparked a swirl of speculation about the 85-year-old Supreme Court justice’s health, especially after she missed oral arguments Monday, the first time in her 25-year tenure…
A gene-editing trial in China lost touch with cancer patients whose DNA was altered, alarming some Western scientists who say subjects should be monitored for many years.
WSJ.com: US Business
A British adventurer was close to becoming the second person to traverse Antarctica completely unassisted just a few days after an American became the first to conquer the feat, which was previously said to be impossible, the AP reports. Louis Rudd’s expedition blog on Thursday showed that the 49-year-old has…
The birth of more stablecoins, which has coincided with significant market losses for traditional cryptocurrencies, has drawn attention to these fiat-pegged digital assets. Dedicated platforms are now aggregating statistical data about stablecoin markets for the benefit of traders.
The Stablecoin War Is Heating Up
The last couple of months has seen the arrival of new coins poised to challenge the dominance of the leading stablecoin tether (USDT). Two new “regulated” cryptocurrencies, also pegged to the U.S. dollar, were announced after receiving approval from the New York State Department of Financial Services in September. The Gemini dollar (GUSD) and paxos standard (PAX) are both backed one-to-one with fiat currency.
Another notable token in the same category is USD coin (USDC), but coins pegged to different fiat currencies or other traditional assets, such as precious metals, have also been announced. Exchanges and other trading platforms have already listed many of these stablecoins, granting them recognition in a bearish market for the majority of the free-floating cryptocurrencies. A crypto loans service has recently begun offering interest payments on stablecoin holdings.
Competition among stablecoins has given rise to dedicated tracking services. A new website, Stablecoinswar.com, provides data about their price, market capitalization, daily trading volume, and share of total volume. It also has a “velocity of money” indicator that reflects the rate at which each coin is exchanged – in other words, the speed of circulation. The platform currently lists eight stablecoins: tether, paxos, trueusd (TUSD), USD coin (USDC), dai, gemini dollar (GUSD), susd, and bitusd.
According to Stablecoinswar, all but one of these assets is currently trading at a cent or two above the $ 1 dollar mark, at the time of this writing. The only exception is bitusd which is currently trading at $ 0.71. Tether remains the stablecoin with the largest market cap, at almost $ 1.88 billion. That’s over 72 percent of the total stablecoin capitalization, which sits at around $ 2.6 billion. Trueusd is second with 8.15 percent of the market cap, followed by USD coin. Paxos, with almost 33 percent, is the second-fastest stablecoin after tether (with over 166 percent) for velocity of circulation.
Stablecoinswar constantly updates its market data but doesn’t offer much more than the basic indicators. Stablecoin Index is another platform that tracks and compares the leading stablecoins. The open-source tool displays cryptocurrencies that are already traded, ranked by market capitalization and presented with their current prices and trading volumes. It also separately lists other stablecoin projects that are still under development.
The Stablecoin Index website provides market data for eight “live” stablecoins – USDT, TUSD, PAX, USDC, DAI, BITUSD, NUSD, and GUSD. The statistical information quoted there is understandably pretty similar to the numbers posted by Stablecoinswar, although it’s more detailed. The one coin that is different from Stablecoinswar’s list, NUSD, actually doesn’t look very “live”, with $ 0 capitalization and volume. According to its website, the total supply of NUSD is currently valued at $ 1,516,106 and its price is exactly $ 1.
Stablecoin Index also has a graph on its frontage that shows the price movements of stablecoins since Feb. 1, 2018. The most volatile of the bunch – the only volatile stablecoin if the standards of the regular cryptocurrency markets are applied – has been bitusd. The crypto reached its high of $ 1.19 in the beginning of the examined period and is currently trading at its lowest price this year, $ 0.72.
What do you think about platforms that track stablecoins? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock, Stablecoins War, Stablecoin Index.
Need to calculate your bitcoin holdings? Check our tools section.
The elder son of former Alaska Gov. Sarah Palin turned himself in to an Anchorage halfway house Wednesday to begin a year in custody, per the AP , following his conviction for assaulting his father, an official said. Track Palin was initially scheduled to enter the halfway house Oct. 31 after…
Jay-Z’s taking direct aim at President Trump with some new lyrics, and while a lot of people think he’s also ripping Kanye West … our sources say that’s a huge misinterpretation. The buzz is over Jay’s verse on Meek Mill’s new track, “What’s…