There's Now a Dollar-Backed Stablecoin on Bitcoin Using Ordinals Protocol
Stably debuted Stably USD in 2019. It's got a $7 million market capitalization across 11 blockchains, according to its April attestation.
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Why this matters
This nft story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on DecryptRelated market context
XRPL’s $1.34 billion stablecoin base doesn’t tell us how much XRP users need
Tracked stablecoins on the XRP Ledger totaled $1.338 billion on Oct. 7. For XRP holders, the critical question is how much activit...
Ethereum leads stablecoin market cap growth, adding $243M in a week
Ethereum's stablecoin growth highlights potential concentration risks and market consolidation, impacting DeFi liquidity and stabi...
Ethereum open interest rose 2.3% in ETH on Binance as its dollar value fell 6.6%
Ethereum open interest in Binance’s ETHUSDT futures contract was 2.27% higher in ETH on Thursday, Oct. 8, over the last 48 hours,...
PowerCompute Mines 8.1 Bitcoin In September After Using BTC To Slash Debt
TL;DR: PowerCompute mined 8.1 BTC in September, up 37% from a year earlier. Its month-end Bitcoin holdings fell to 63.7 BTC after...
Tether froze 1.45 million USDT in THORChain vaults, then reversed course three hours later
The incident highlights the vulnerability of DeFi protocols to centralized issuer actions, emphasizing the need for diversified as...
Ethereum Price Prediction: Is Tom Lee’s $25K ETH Target Too Ambitious?
Tom Lee’s $10,000 Ethereum price prediction implies a 1000% move from ETH’s current price at around $2,500. BitMine’s accumulation...