Top Stablecoins Shed $7B In May As Traders Redeem Tokens En Masse
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Stablecoin holders are exchanging their tokens for cash, in some cases reducing the coins’ overall supply Tether and DAI have shrunk the most throughout May so far The top four stablecoins by market…
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Pyth Network announced the release of its new Crypto Redemption Rate Feeds, expanding the range for DeFi platforms. The new launches bring in two fast-growing asset classes, Liquid Staking Tokens (LSTs) and yield-bearing stablecoins-opening a suite of new possibilities for developers in the DeFi space. Pyth provides feeds for cryptocurrencies…
Stablecoins have always been popular in crypto because they offer stable alternatives to volatile digital assets. However, a new type of digital fund, yield-bearing stablecoins, is gaining traction in the industry. These tokens offer interest to investors, similar to how savings accounts in traditional banks work. JPMorgan analysts, led by…
Coinbase has rejected claims that stablecoins drain U.S. bank deposits. Here’s what Coinbase’s Faryar Shirzad had to say. Coinbase is pushing back against long-standing claims that stablecoins weaken U.S. bank deposits. The company insists that the idea of large-scale deposit flight into digital tokens is a myth. Instead, it…