Mountain Protocol has raised $8M in a Series A funding round led by Multicoin Capital and participated by other investors.

The USDM is the first prudentially regulated, yield-bearing stablecoin, which means it is backed by a stable currency and earns interest.

#MountainProtocol #USDM #stablecoin #TopCoinsJune2024 #BnbAth

🔥🔥🔥 Data Shows That Despite Struggles, $XRP Ranks Among Top 5 Assets with Highest Profitability

The recent update highlights XRP's ongoing struggle to surpass the $0.50 level, sparking #stablecoin comparisons. Since dropping below $0.60 on April 12, XRP has failed to reclaim this key price point, despite occasional market upswings. However, XRP has maintained its $0.50 support, showcasing resilience but causing investor anxiety due to stagnant price movements.

Santiment's "Supply in Profit" metric reveals that most of XRP's circulating supply is trading at a profit. This metric compares a token's current value to its initial value on the #Blockchain , indicating whether it's trading higher or lower than its initial price.

Bitcoin ($BTC ) has the highest percentage of supply in profit at 98.3%, followed by Ethereum ($ETH ) at 95.1%, #Chainlink at 86.8%, and Dogecoin (DOGE) at 82.2%. Despite a year-to-date decline of 15%, XRP ranks fifth with a 78.8% profitability ratio.

XRP's high profitability is due to its initial low price and the timing of token releases. Ripple's monthly escrow releases, totaling 2.4 billion tokens annually, often coincide with low prices, maintaining supply profitability. For instance, 500 million XRP released on May 1 and 1 billion XRP on June 1 are now in profit, trading above their release prices.

In summary, XRP's ability to maintain its $0.50 support and high profitability ratio, despite price struggles, is largely due to strategic token releases and initial low pricing.

Source - thecryptobasic.com

#CryptoTrends2024 #BinanceSquareTalks

M^0, a decentralized stablecoin minting protocol, has raised $35 million in a Series A funding round led by Bain Capital Crypto.

M^0 is a protocol that allows approved entities to create a stablecoin called M, which is backed by U.S. Treasuries and is overcollateralized, meaning that there is more value in the collateral than the value of the stablecoin.

#Stablecoins #stablecoin #Wintermute #ETHETFsApproved #StartInvestingInCrypto

Ripple President Says XRP ETF Would Make a Lot of Sense

Ripple President Monica Long claims that the company's much-hyped stablecoin is likely to launch this year

During a recent interview with CNBC, Ripple President Monica Long said that an XRP exchange-traded fund (ETF) would make "a lot of sense." 

"If you think about it, only XRP and Bitcoin have regulatory clarity on status in the U.S. XRP has been a top 10 asset by market cap and is about the top 5 if you look at daily traded volume. So, I think that it will make a lot of sense," she said.

Long's statement comes after Ripple CEO Brad Garlinghouse recently predicted that the launch of a spot XRP ETF was seemingly "inevitable." During a recent #CNBC interview, he clarified that approving several altcoin ETFs would make sense since investors typically do not want to have exposure to a single coin. At the same time, he believes that the upcoming Ethereum ETFs will be very successful. 

Long expects to see even more institutional interest in the space. Sophisticated players are entering the relatively nascent crypto market with the help of #BitcoinETFs or tokenized assets.    

Ripple's stablecoin is expected this year 

As reported by U.Today, Ripple recently made a foray into the ultra-competitive stablecoin sector. 

The yet-to-be-named stablecoin project is expected to go live by the end of 2024 according to Long.

"We are working on all the things you need to do in order to bring a product like this to market," she said. 

Long claims that there will still be a need for the $XRP token even after Ripple launches its stablecoin project since the former will still be able to serve as a bridge asset.  

The Ripple executive has pointed to various projections showing that the #stablecoin market could reach more than $3 trillion in cumulative market cap within the next five years. 

#Stablecoins are seeing great demand since they provide easy access to US dollars in various parts of the world. Moreover, stablecoins are convenient for conducting payments. 
#BnbAth

🚨 Paxos International Launches Lift Dollar (USDL), the First Stablecoin Offering Daily Yield Under Regulatory Oversight

Paxos International has introduced Lift Dollar (USDL), the world's first stablecoin that provides daily yield to its holders under regulatory supervision. This innovative product aims to offer stable returns while ensuring compliance and security for investors.

#Paxos #LiftDollar #USDL #stablecoin

💵 Tether invested $18 million in #XREX Group

Tether has invested $18.75 million in XREX Group.

The move is made to support cross-border B2B payments using #USDT。 and the launch of the XAU1 #stablecoin , which will be backed by Tether Gold.

XREX has licences in Taiwan and #Singapore .
#BnbAth

$RIF This might not be a random news by Binance 👩‍💻 Might have in plan to list USDRIF #binance #news #stablecoin

NEW: The Stablecoin Working Group has officially received funding from Intersect to research bringing USDC and other stablecoins to Cardano.

#webgtr #Bitcoin #stablecoin #USDC #Cardano

New global #stablecoin #regulations are being discussed at the #G20 summit. These rules aim to provide more stability and security in the crypto market. #Stablecoins #cryptolaw

$ENA broke out from inverse Head & Shoulder pattern and undergoing a retest at neckline $0.94. A good zone to bid with clear invalidation level. A successful retest = Higher!

Fundamentals:
- USDe supply is now > Solana's total$ stablecoin.
- Ethena currently generate the most revenue as a web3 app.
- Short positioning is at risk of a squeeze.

@Ethena Labs #altcoin #stablecoin

BUSD(Binance USD)is #stablecoin pegged to US $ & issued by Binance
10 benefits of BUSD

Stability
Fast Transactions
Low transaction fees
Access to global markets
Easy to use
Widely accepted
Security
Transparency
Regulatory compliance
Hedge against market volatility

#BinanceFeed

Real World Assets (RWA) have been proposed to the #Aave community by the decentralized lending protocol #Centrifuge who intends to use them as security for the native #stablecoin GHO. An official proposal will be made as soon as the GHO coordinator is prepared.

#crypto2023

JUST IN: 🇦🇺 National Australia Bank launches #stablecoin fully backed by Australian dollars.

#crypto2023

So...

Exchange and #stablecoin FUD everywhere, media are calling #crypto dead, people are losing hope and lots of them sold everything and quit.

Social activity at 0, people argue in public.

Yes, this is the real #bearmarket . The bottom is close, or is it in already?🙏🏻

The New York Department of #FinancialFuture Services is ordering Paxos to stop issuing #Binance BUSD- the 3rd largest #stablecoin . #BNB #BUSD

After much anticipation from the #Cardano community, the network developers have finally launched the ecosystem’s overcollateralized #stablecoin called ‘#Djed .’

The stablecoin launch comes after its successful security audit and development testing for over a year

#crypto2023