News Formal

Stablecoins market faces volatility: Exploring recent trends and key players

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 68%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Stablecoins navigate turbulent waters as their market cap fluctuates. Terra's fall, FTX's crash, and Paxos' exit leave USDT and USDC at the helm.

Simultaneously, its companion token, LUNA, designed to stabilizeprice, plummeted from $80 to just a few cents. The collapse of the Terra stablecoin significantly impacted the overall stablecoin market capitalization.

Furthermore, as the market appeared to be stabilizing, another significant crash occurred, this time involving an exchange. In November, theexchange experienced a collapse that sent shockwaves throughout the crypto space. Examining the chart, it becomes evident that the market cap started declining following this period.

The most recent event affecting the market cap was an announcement by Paxos. Paxos revealed its decision to cease minting the Binance stablecoin,

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTX’s $10 million crypto transfer sparks concerns of market disruptionThis significant cryptocurrency transfer from Solana to Ethereum raises concerns of potential market turmoil.
Source: CryptoAmb - 🏆 22. / 68 Read more »