News
Times are somewhat delicate for Circle Internet Financial, the issuer of a stablecoin called USD Coin (USDC), as its venture capital division is said to be a major backer of two crypto projects that were hacked this week. In the hacks, nearly $200 million was stolen from Nomad, a cross-chain
News
Bitcoin, the largest cryptocurrency based on market capitalization, has recovered slightly after gaining over 9% in the last 24 hours. The past week saw Bitcoin have a 5-day straight fall to as low as $24k. However, its price climbed to $30k in the early hours of Thursday and at the
News
The recent de-pegging of TerraUSD (UST) from the dollar raised eyebrows among investors in the crypto community, with many questioning the stability of algorithmic stablecoins. The price UST fell to 22 cents up from $1.00 amid massive sell-offs. Similarly, Terra’s native token LUNA lost up to 99% of
Uncategorized
TerraUSD (UST) stablecoin, over the weekend, slightly lost its dollar peg and fell to $0.98 as against the usual $1.00. It, however, bounced back on Sunday. Similarly, its native token (LUNA) plunged by almost 20% after its co-founder Do Kwon launched an FUD - fear, uncertainty and doubt-
News
Terra’s LUNA has emerged one of the biggest gainers in the cryptocurrency market after its price surged 17% in the past 24 hours. LUNA traded as high as $92.07 in the Asian hours of Tuesday. LUNA, the governance token of money market protocol Terra, pushed past the $80-$
Education & News
The proposed Libra stablecoin by social media giant Facebook could go live by January 2021, according to a report by The Financial Times. The FT report cites confirmation from three people involved with the project. According to one of its sources, the Libra digital currency will be released in phases
Africa
While institutions and financial players globally are working on digital currency initiatives and expanding services to cryptocurrency startups; Nigerian banks have maintained a rigid stance with regards to cryptocurrency, and seem very uninterested in learning or partnering with Bitcoin or crypto-related exchanges. This current unfriendly relationship could be first attributed
Blockchain
Russia's state-owned Sberbank is considering the possibility of issuing its own stablecoin. The country's biggest bank made this known few days after President Vladimir Putin signed Russia's new cryptocurrency law. Speaking on the subject, Sergey Popov - Director of transaction business at Sberbank says
Blockchain
Stablecoins are digital assets that retain value regardless of whether the price of other cryptocurrencies is going up or down. Typically, people don't, therefore, invest in stablecoins. Instead, Nigerian and other investors use stablecoins to safeguard crypto wealth during market downturns. What are Stablecoins The cryptocurrency market is
Bitcoin
World’s number one cryptocurrency exchange by trading volume – Binance is launching an open blockchain project dubbed “Venus”. The project is focused on the development of localized stablecoins and digital assets pegged to fiat currencies (traditional currencies issued and backed by government) globally. According to an official announcement, Binance says