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The stablecoin market is dominated by two giant players — Tether and USDC. ... Tether’s stability was put to the test in May 2022, a key moment in the history of stablecoins. The crash of ...
In May 2022 UST broke its peg with its price plunging to 10 cents, [14] while LUNA fell to "virtually zero", down from an all-time high of $119.51. [15] The collapse wiped out almost $45 billion of market capitalization over the course of a week. [16] On 13 June 2022, Tron's algorithmic stablecoin, USDD, lost its peg to the US Dollar. [17]
List of cryptocurrencies. 11 languages. ... (June 2022) Since the creation of bitcoin in 2009, the number of new cryptocurrencies has expanded rapidly. [1]
Tether (often referred to by its currency codes, USD₮ and USDT, among others) is a cryptocurrency stablecoin launched by Tether Limited Inc. in 2014. [3] [4]As of August 1, 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves.
By 2022, SHIB had lost over 90% of its value, a trend that could persist as its limitations become evident. ... “Once tied to an algorithmic stablecoin (UST) designed to revolutionize ...
In 2020, Mushegian co-founded the RAI project, a DAO which generates the Rai stablecoin, the first stablecoin to have a scalable, purely crypto-backed design. [20] In 2022, Mushegian co-founded RICO, a next generation stablecoin project with its own blockchain and autonomous multi-collateral capabilities in a minimalist design. [21]
The stablecoin space. Stablecoins have emerged as one of the most popular types of cryptocurrency over the past few years, and amassed a total market cap of over $200 billion, according to ...
In July 2022, Circle reported that the circulation of USDC had reached $55 billion. [ 11 ] On March 11, 2023, USDC temporarily lost its peg to the US dollar after Circle revealed that $3.3 billion dollars, about 8% of its reserves, were jeopardized due to the collapse of Silicon Valley Bank the day before. [ 12 ]