Plunging cryptocurrency prices are not the only consequence of this week’s FTX-induced crypto contagion. Significant market volatility this week induced by the collapse of the FTX exchange has impacted stablecoins with many of them de-pegging temporarily. According to CryptoQuant senior analyst Julio Moreno, nearly all leading stablecoins have experienced some level of peg volatility this week. The world’s dominant stablecoin, Tether (USDT) temporarily declined to $0.97 on Nov. 10 as redemptions surpassed $600 million over the past two days, he noted. CoinGecko currently reports that USDT is still slightly below its peg, trading at $0.998 at the time of writing. …

Tron-based tokens such as JUST (JST) have surged as much as 1000% on FTX, as users scramble to find ways of extracting locked-up liquidity from the beleaguered exchange. At the time of writing, Tron’s native token TRX is trading at roughly $0.33 on the FTX exchange, more than five times its current market price, according to CoinGecko. Meanwhile, BitTorrent (BTT), JUST (JST) and the Sun Token (SUN) are trading on the exchange at premiums ranging from 525% to 1,196% compared to the market price. As it stands, the prices are extremely volatile and constantly changing. The overinflation of Tron-related tokens …

In April 2022, the Tron network launched USDD, a token pegged to the U.S. dollar, as an "over-collateralized stablecoin," meaning its likelihood of slipping below $1 should be lower due to excessive reserves backing its valuation. USDD stablecoin slips below $1 peg But it was not enough to keep USDD's price anchored to $1 on Nov. 8 when some whales dumped over 11 million USDD tokens to seek exposure in rival stablecoins Tether (USDT) and USD Coin (USDC). A day later, USDD's price fell to as low as $0.96, followed by a modest recovery to $0.98 on Nov. 10. The …

In the past year, Polygon (MATIC) has focused on growing their list of high-profile partners which includes luminaries like Disney, Starbucks and Robinhood. The recent announcements of partnerships with both Instagram and JPMorgan have speculators pushing the token price up nearly 200%. In addition to partnerships, blockchain adoption through network usage is important to analyze. Blockchain adoption can be analyzed by looking into daily active users of the blockchain, protocols using the technology, number of transactions and total locked value. Total value locked on Polygon rises above $1B Total value locked (TVL) is one cryptocurrency indicator used to assess the …

Huobi Token (HT) has been up 12% in the last 24 hours and is one of the few cryptocurrencies bucking the general downtrend. Trading at over $7, HT's price is up over 80% since the beginning of this week, which is also its best weekly performance since February 2021. HT's intraday gains coincide primarily with crypto exchange Huobi Global announcing the opening of Starfish Finance (SEAN) spot trading on its platform. Plans to "empower" HT Additionally, HT's impressive weekly gains were related to About Capital Management. On Oct. 8, this Hong Kong-based investment firm announced purchasing Huobi Global, one of …

With their sudden rise to fame, many quickly associate nonfungible tokens (NFT) with luxury purchases for the wealthy. Consider just how many stories have flooded the news of investors and celebrities buying NFTs for $1 million or more. However, these assets are more than a tool for the rich to get richer. Rather, at their core, these assets exist as a stepping stone to bridge the world into a digital realm, leveling the playing field for artists and providing a foundation for asset ownership for creators. Much like blockchain was brought into the world to democratize finance, NFTs can ensure …

While the market has not yet fully recovered from the onslaught caused by the TerraUSD (UST) depeg, another stablecoin project shows signs of distress, causing fears and speculation within the community. Stablecoin protocol USDD’s price dipped to $0.97 on major crypto trading platforms on Monday. Because of this, the market started to keep an eye on the project with fears that the project will follow the footsteps of Terra (LUNA), now officially Luna Classic (LUNC). CurveSwaps, a bot that monitors large asset transfers flagged that $1 million USDD was recently swapped to 997,339 Tether (USDT). On the other hand, blockchain …

Stablecoin projects have been thrust into the limelight over the past month as the popularity of algorithmic stablecoins and the collapse of the Terra project put a spotlight on the important role dollar-pegged assets play in the crypto market. In response to the void left by UST, multiple protocols have released new stablecoin projects in an effort to attract new users and capture liquidity. Generally speaking, the DeFi sector is full of gimmicks that are designed to entice user participation and it's possible that the recent stablecoin launch programs are simply the next trending tactic being used to boost TVL …

The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. The drop to $1.65 trillion was followed by Bitcoin (BTC) reaching $35,550, its lowest price in 70 days. In terms of performance, the aggregate market capitalization of all cryptocurrencies dropped 6% over the past seven days, but this modest correction in the overall market does not represent some mid-capitalization altcoins, which managed to lose 19% or more in the same time frame. As expected, altcoins suffered the most In the last seven days, Bitcoin price …

United States Securities and Exchange Commission Commissioner Hester Peirce, known colloquially as “Crypto Mom,” has slammed the SEC for its $10-million settlement with cryptocurrency exchange Poloniex. The SEC announced the $10-million settlement on Monday, with Poloniex being charged with facilitating trades in unregistered securities between July 2017 and November 2019. The SEC asserted that Poloniex employees “stated internally” that they wanted to be “aggressive” in circumventing securities regulation in a bid to increase market share by listing new digital assets that may be deemed securities under the Howey Test of 1946. Poloniex elected to neither admit nor deny any wrongdoing. …

The crypto markets are as volatile as ever — and now, a major trading platform is making it easier to have “diamond hands.” eToro supports staking, which means that those who purchase and hold supported cryptocurrencies on its platform have a way of growing their capital. According to the platform, the mechanism that’s used to achieve this is not dissimilar to the way that interest accrues in a savings account. With many people beginning to gain exposure to crypto for the first time, eToro says it aims to ensure that the staking process is “simple, secure and hassle-free.” Any rewards …

An oracle system has launched on Binance Smart Chain — enabling developers to create DApps and decentralized autonomous organizations that are fueled by real-world data. Bridge Oracle, which first made its debut on Tron, says the expansion of its easy-to-use infrastructure is a significant milestone. Now, a diverse range of data sources can be integrated into smart contracts — boosting their utility immeasurably. Data can be fetched using HTTP and HTTPS requests, or through the computational knowledge of WolframAlpha. Oracles can be used to generate random numbers, and this infrastructure also paves the way for enterprises to integrate blockchain technology …