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Stablecoin

USDT warn! only the tokens on the PoS network will be redeemableGrayscale warning ahead of the Ethereum Merge: “issuers like Tether and CirclePay have stated that post-fork, only the tokens on the PoS (proof of stake) network will be redeemable”, so if the PoS-based Ethereum fork goes “live with a parallel DeFi ecosystem, collateralized with unredeemable stablecoins, users and smart contracts may attempt to liquidate positions on the new chain, contributing to sell pressure on the new token.” The worst case scenario of the Merge is the collapse of Ethereum based stablecoins, so be careful with those.
BITTREX:TUSDUSDShort
by BuySellMarketMaker
BTC.D+Stablecoin DominanceI think the days of just looking at BTC dominance are nearing its' end now that we have more stable (generally) crypto options to "cash out" to. Before USDT/USDC, bitcoin was the safest to cash out to. I calculated dominance of top 50 overall market cap stablecoins BUSD, USDC, USDT and DAI and then added BTC.D. This way we can paint a picture of overall market risk on vs off, removing the impact trading between BTC and stablecoins has on BTC.D alone. Equation plugged into TradingView: BTC.D+(GLASSNODE:BUSD_MARKETCAP+GLASSNODE:USDT_MARKETCAP+GLASSNODE:USDC_MARKETCAP+CRYPTOCAP:DAI)/CRYPTOCAP:TOTAL*100 Any comments, questions/concerns are more than welcome!
CRYPTOCAP:BTC.D
by thechartfather
2
#Stable Dominance giving us a hint for a green weekend!!USDT Dominance is in play. Testing the blue EMA right now after the breakdown.Although this is a 4 hour chart but most of the people trade on leverage so keep in mind an hourly full candle close above the 6.28% followed by a confirmation candle would mean I will close my long positions manually and this chart will be invalidated. Unlikely, but you never know. Always be prepared for the worst. I am holding Long positions right now. Let me know what you think. Do hit the like button and share your views in the comment section. Thank you #PEACE
CRYPTOCAP:USDT.DShort
by Cryptorphic
1
August 1 BTCUSD BingX Chart Analysis and Today's Headline BingX’s Bitcoin Chart According to Glassnode, the number of addresses holding 1+ Bitcoin just reached an ATH of 890,993. Bitcoin is down 1.32% over the last 24 hours and fell to an intraday low of $23,238.04. The largest cryptocurrency failed to sustain above the $24,000 price level during the weekend, suggesting the sellers remain active at this level. If the BTC/USDT pair breaks and closes above $24,000, the pair could rally to $28,000. Conversely, if the Bears pull the price below the 20-day exponential moving (EMA) ($22,521), the pair could find support around the 50-day moving average (MA) ($21,985). Today’s Cryptocurrency Headline Aave DAO Approves Launch of Algorithmic Stablecoin GHO DeFi protocol Aave’s proposal for the creation of the algorithmic stablecoin GHO has been approved by the Aave DAO, with an approval rate of 99.99% (501,000 AAVE). Aave will enable the creation of GHO stablecoins through an Aave improvement protocol (AIP), with the Aave DAO in charge of supervising the stablecoin’s distribution once its creation has been vetted. Users looking to mint GHO will deposit cryptocurrencies accepted by Aave as collateral. Apart from acting as collateral, these deposits will also earn yield on Aave. The lending protocol will also charge interest on loans taken out in GHO, with payments going back to the Aave DAO. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
Long or Short? Update for Leverage traders...USDT Dominance is at a decisive point. Multiple Rejection candles will lead to a rally across the market. BTC could hit $23k+ and alts will follow, probably a green week. However, a close above the resistance will lead to a correction. Important area, stay vigilant. CONCLUSION:- Close above 7.28% will trigger short entries across the market. Close below 7.23% enter long position with SL. Let me know what you think in the comment section and hit the like button if you find this update helpful. DYOR Thank you #PEACE
CRYPTOCAP:USDT.DShort
by Cryptorphic
5
7 billion Tether (USDT) redeemed as stablecoin supply decreasesFollowing the cryptocurrency market turmoil, the total supply of stablecoins has fallen quite significantly. This reportedly marks Q2 of 2022 as the first time in crypto history where the overall supply of stablecoins has decreased. Over the past month, the total supply of all stablecoins combined declined by more than 10 billion (equally +$10 billion), even when excluding the failed TerraUSD. According to Coinmetrics, the tokens were directly redeemed by the holders through the treasuries of major issuers. The largest stablecoin issuer Tether Inc. recorded the most redemption of all centralized stablecoins, as USDT supply dropped by approximately seven billion on Ethereum, Omni Layer Protocol, and Tron Network. The decentralized stablecoin DAI dropped by over 40%, mostly due to liquidations of debt positions.
COINBASE:USDTUSDLong
by Thorsten2211112
TRON Deploys $700 Mln To Support USDD StablecoinDespite initially outperforming amid the recent crash, TRON (TRX) prices have dropped by over 16% in the last 24 hours. In order to defend and build support, Justin Sun, TRON head has planned to deploy over $2 billion. With the USDD stablecoin briefly losing its peg, Tron deployed $700 million to support the stablecoin and maintain redemptions. Justin Sun in a Twitter post highlighted that the funding rate of shorting TRX token on the world’s biggest crypto trading platform, Binance has redhead 500% ARP. The announced amount will help them to fight it. He added this situation won’t last for even 24 hours. The TRON DAO informed that to counter the current situation they have received 700 million USDC. This amount will be used to defend the USDD peg. It added that its collateralization rate is nearly 300%. In another update, it mentioned that DAO has added 100 million USDC to the Binance to buy more TRX.
BINANCE:TRXUSDLong
by Roberto411
WAVES Makes Waves. Crypto's "Decoupling" ContinuesAfter Friday's "decoupling" event, the markets have mostly stayed flat (it feels like there's a lot of confusion and uncertainty in the market as a whole right now) with a few exceptions - WAVES seems to be the big winner today, followed by AXS (Axie Infinity) and ADA (Cardano). XTZ (Tezos) had a very good week this week but at least for today, it seems to be in the red. With altcoins normally moving in parallel to each other, these trends are interesting to look at because it seems like after Friday each coin seems to have suddenly gained independence as we start to see less and less parallel motion over time. Time will tell if this "decoupling" trend continues - but so far, it seems to be the case. By the way, if you invested in LUNA right at its rock-bottom a few days ago you would have made a 5.9 MILLION % return today. High risk, high reward. 😂 I don't recommend putting your life savings into bets like these but there is something to the idea of supporting a project during its struggles since that's often how investors make their biggest returns.
WLong
by RyanTanaka
3
📉UST -92%! How $11.5B became a $1.4B?Algorithmic stablecoin UST dropped by 92% and there are still different rumors: the network collapsed on its own or was deliberately destroyed to buy back all the Bitcoins from the Terra Foundation. As we know, about 80,000 BTC were used to secure this stabelcoin. Many holders of UST, just stablecoin(!), have lost about $10B. 📊In order to understand how it all happened, it is necessary to understand the mechanism of algorithmic stablecoins. 🎯Types of Stablecoins. In the picture you can see different types of stablecoins: 🔶 USDT, USDC - secured in fiat currency, government bonds. 🔶 DAl - secured by pledge of Ethereum in smart contracts. If you know that Ethereum will grow in value and you do not want to spend it, you pledge your Ethereum, and in return you get more DAI (dollars) for the trading or investing. 🔶 UST is an algo stablecoin, which has a price peg to the main cryptocurrency and USD. In the case of UST it was Luna. Luna was the security of the UST stablecoin and you could exchange 1 UST and the equivalent of Luna. If Luna was worth $100, you could get 100 UST in exchange, and for 1 UST you could get 0.01 Luna. There was also a huge supply of Bitcoin on the security of UST. ✅What is the advantage of algorithmic Stablecoin? The advantage of this approach is that there is no need to hold additional funds for security. If a bank issued securities in order to borrow money, it has the funds to security that debt, and also earns additional profit on the money it borrowed. For algorithmic stablecoins, the security was an altcoin. If Luna goes down in value, the guarantee that you can exchange USTs for dollars goes down also. If the bank goes bankrupt, you get your money back, if the altcoin drops....you know what happened next. 💼Algorithmic stablecoins are also called unsecured stablcoins. Luna had a security in BTC, but as it turned out later, not enough. Why is the peg broken? Let's not go into all the details, I'll tell you a simple algorithm: 1️⃣ The big amount🐳 of UST was exchanged for Luna. 2️⃣ They have sold big amount of Luna by market. 3️⃣ Luna dropped by 50% and its capitalization became insufficient to secure UST. 4️⃣ Panic selling by retail investors continued. 5️⃣ Terra Fundation, in an attempt to stabilize the stablecoin`s peg to the dollar, sold all their Bitcoin holdings. 6️⃣ Luna is down by 99.9998% and UST is down by 92% with no BTC on their wallets. What are the reasons of this dump? A week ago I did an article about Terra being a top 3 holder of Bitcoin and have about 80,000 Bitcoins. If you've been in trading for a long time, you should understand that the whales have liquidity issues and may have done a manipulation of the price of Luna to make Terra sell all their Bitcoins to save the stabelcoin peg. 🚩If you are a newbie, liquidity is a measure of the speed or availability at which a trader can buy or sell a cryptocurrency. You don't need much liquidity to buy 1 Bitcoin, but to make a $2-3 billion purchase, you need someone to sell $2-3 billion worth of Bitcoins. Such manipulations happen very often at the crypto market, as it happened with Luna and UST. When Bitcoin falls by 30%, more than $2B of long traderss are liquidated, all this liquidity is bought by big players, because they don't have such amount of liquidity for buying at other time. 🏁Are you still have a questions? What other reasons could there be for the Luna and UST dump? Write your ideas in the comments! 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
U
by Yuriy_Bishko
7
Tron’s TRX Burn Total Exceeds 7.7 TrillionThe Tron network has figured out how to beat the remainder of the digital forms of money in the midst of the as of late expanded bear pressure. Tron's local token TRX has flooded by more than 25% in the beyond 30 days. In a bid to help this increment the organization is continually executing different consumes. Very nearly 300 million TRX consumed Justin Sun, Tron's head, informed that another very nearly 300 billion TRX tokens have been shipped off a dead wallet. The exchange was worth around $24 billion. The token is exchanging at a typical cost of $0.079, at the press time. According to the Tron people group, in excess of 385 billion coins were singed on May 26, 2022, to back the cycle. In the mean time, two other comparative exchanges were recorded by the Whale Alert as of now. More than $14.9 billion worth of 184 billion Tron tokens were moved to an obscure wallet. Notwithstanding, Tron hasn't asserted that these exchanges were important for their consume cycle. Commercial The Tron network has guaranteed that they are in a condition of flattening. This statement comes in as they have sent around 7.7 trillion TRX tokens to a dead wallet in only 30 weeks. The Tronscan referenced that TRX consumed comparing to the decentralized stablecoin USDD crossing 7.2 trillion tokens. Nonetheless, Sun looks hopeful as he holds back nothing trillion TRX consume mark. May saw enormous consume exchanges According to the information, the TRX consuming cycle saw an enormous spike in the long stretch of May. The spikes proceeded to contact the 1 trillion symbolic consume level two times this month. May 5, 2022, saw the send off of one more stablecoin USDD upheld by TRX. Nonetheless, the USDD has likewise outperformed a major milestone. The stablecoin has figured out how to fabricate a course of more than $600 billion. This huge achievement has come in the midst of the new Terre LUNA and UST memorable accident.
VELOCITY:TRXUSDLong
by DEinvestment
Stablecoins: why are they not so stable?Introduction of crypto currencies and blockchain technologies was one of the highest technological breakthroughs, after the invention of the Internet a few decades ago. Initial premise related to these new algorithms and their major product – crypto coins, was that they exist to replace fiat currencies and solve issues that fiat currencies had for many years since their official introduction by monetary authorities. However, in order to solve fiat issues, crypto currencies needed first to solve their own issue which was extreme volatility. That was the moment when stablecoins entered the market stage. Initial idea behind stablecoins was their peg to some other real asset, as a measure of their value. As real assets do not have extreme volatilities in values, they will provide stability for the value of specific coin pegged to such assets. Today, there are less than 200 stablecoins on the crypto market. Most popular stablecoin is Tether or USDT, whose value is pegged to 1 USDollar. There are also Gemini Dollar (GUSD) and Paxos Standard (PAX) also pegged to USD and Digix Gold (DGX) which is backed with gold. But, it should be taken into account that not all existing stablecoins are pegged to real assets. So, where is the issue? By definition, all stablecoins which are pegged to some real asset like fiat currencies or commodities, should be 100% backed by that asset. In theory that means if all people today who posses one of currently circulating $75 billion USDT`s try to convert it back to USD, they should be able to receive their USD`s without any problems. However, in practice, things are a bit different. Since there is no official regulation which requires from USDT`s issuer to hold 100% of US Dollars in order to 100% back USDT, there is also no one to control whether the company is holding its promise to USDT holders. This issue was initially raised by the U.S. Treasury Secretary Janet Yellen, noting that USDT might be potential threat to US monetary system, considering also that no one knows where the Tether Holdings Ltd holds its reserves which became significant during time. Well, the truth is that nobody knows. At the same time we can ask question is there back for USD or EUR in real assets? Well, nobody knows, but most certainly there is only to some small level. Same it could be asked a question if there is run on bank`s deposits, will the bank will be able to pay me out my savings? Most certainly not. So what are we hold on for both stablecoins and major fiat currencies is trust. We trust that they will continue to be stable. As previously mentioned, not all stablecoins are backed by real assets. Innovation in the crypto world brought up coins which are pegged to different algorithms behind them. For example the DAI coin is created through collateralized loans, so it is backed by crypto collateral. Up to recently one of the popular and promising stablecoins on the market were Terra coins: TerraUST and Terra Luna. However, their recent crash was one to point markets to question if algorithmic stablecoins are good investments? Terra USD is coin pegged by US Dollar. However, instead of a simple peg, Terra created an algorithm which was supposed to mint and burn coins in order to keep them pegged to USD. But the problem emerged with the latest downturn on the crypto market, when the algorithm was unable to execute transactions under high market pressure, so the coin crashed down to the level of some $0.2, while LUNA was halted from trading. Case of Terra sent a warning signal to the market, regarding significant deficiencies of algorithmic stablecoins. Though they can operate fine when markets are in ordinary mood, any market distortions impose a high risk for those coins. Example of Terra shows that further improvements in algorithmic stablecoins are necessary and innovation-driven markets would certainly seek for the solution of this issue. On the other hand, there are still less-riskier risky coins with simple back like Tether, Paxos Standard, Binance USD, Gemini USD, who showed resilience during the latest market downturn so, could be good alternatives to algorithmic pegs.
CRYPTOCAP:USDT
by XBTFX
9
LUNA/BUSD Daily TA Cautiously BearishLUNA/BUSD Daily cautiously bearish. *Congressional Research Service posted a short report on the LUNA:UST peg collapse and covers mostly everything aside from the bad actors who exploited this vulnerability. They also make mention of rumors that LFG didn't sell their reserves to protect the peg, which one can see on LFG's reserves dashboard are false.* Recommended ratio: 6% LUNA, 94% cash. Price remains trending sideways under $0.00020 as the Terra governance community will decide on whether or not to fork tomorrow. Volume has waned but remains very high and is on track to favor sellers for three consecutive sessions if it can close today in the red. Parabolic SAR flips bullish at $24.30, this margin is bullish. RSI remains flatlining at the ATL of 14.25 for a sixth consecutive session. Stochastic also remains flatlining at max bottom for a sixth consecutive session. MACD remains bearish and is still trending sideways at the ATL (-24.65) established in yesterday's session, if it can get above -20 it would be a bullish crossover. ADX continues to trend up at 47 as Price continues to see choppy trading at fractions of a cent, this is bearish. If Price is able to get back above $0.01 then the next likely target is a test of $0.27. However, the alternative would be continued chop at fractions of a cent; which is a modest sign of consolidation. Mental Stop Loss: (two consecutive closes above) $0.01. **Anybody trading LUNA should be prepared for more volatility leading up to tomorrow's vote.** ***Anybody investing in LUNA should have a time horizon of 1 year or more and will need to wait for tomorrow's vote for more clarity regarding Luna's future.***
L
by dailytaguy
2
LUNA/BUSD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. LUNA currently having a Scarface moment, "You think you can kill me with bullets?". The Revival Plan posted by Do Kwon with help from the Lunatic community shows that perhaps there is enough support to have Luna rise from the ashes, but whether or not it ever reaches its previous ATH at $120 without removing or significantly modifying the UST:LUNA peg aspect of Terra is TBD. Recommended ratio: 5% LUNA, 95% cash. Price is currently trading for fractions of a cent ($0.00025748) just above max bottom as it has become a "meme coin" that some investors are betting big on recovering. Volume remains extremely high and is becoming more fairly balanced between buyers and sellers as it is attempting establish a new base. Parabolic SAR flips bullish at 30, this margin is bullish. RSI remains flat lining at the ATL of 14.25 for the fifth consecutive session. Stochastic also remains flat lining at max bottom. MACD is currently printing a new ATL at -24.65 and is beginning to form a trough; this is mildly bullish at the moment, though it would need to break out above -18 for a bullish crossover. ADX is currently trending up at 45 as Price remains near 0; this is bearish. If Price is able to break out above $0.01, then the next resistance is at $0.27. However, if Price stays below $0.01, it can trade down here for a while until LFG figures out the best way forward. Mental Stop Loss: (two closes above) $0.01. *I'm using BUSD because the chart I had been doing LUNA/USD TA on was broken when Binance delisted that pair* **You should only invest what you are prepared to lose into LUNA at the moment because it is currently still unclear how they plan to move forward**
L
by dailytaguy
LUNA PricetargetsIf Luna gets mad again, and sees those high Fib extensions again, we could scratch another Zero in the next push. Last Breakout brought us to the 400% extension, that would mean a 0.00176 Luna after the next wave up then retrace back to last high. See that perfect backtest of the old "post crash" ath as support? (green arrows) Definetly some algos involved in this trading patterns imo. Watch UST USD for more recovery in order to back this up. THIS MADNESS IS PROBABLY OVER IF WE EVER BREAK BELOW THAT "POST CRASH" ALLTIME HIGH WE JUST TESTES AS SUPPORT!! We're talking pure bullish momentum here, LUNA is already back to 2bil market cap, remember the market cap!! before you start dreaming. Even at its best days Luna probably hat around 50bil give or take market cap, so were talking a 20x potential here round about at best, to old all time high levels, and we still dont even know, wth is going on with LUNA, it could be gone again very soon. Somebody made 50.000% in about 24 hours with this move, PLEASE for the love of god, DONT get his bagholders out there.
LLong
by 10xTrading
4