Bitcoin, the cryptocurrency based on market value is presently experiencing a decrease, in interest for leveraged purchasing via its ongoing futures contracts.
USD Coin News
In a development Bitcoin went through a price drop of 12.5%, between March 14 and March 17 reaching a value of $64,545.
Bitcoin reached its close, in more than two years on February 20 demonstrating considerable strength in the world of cryptocurrencies.
Coinbase, a cryptocurrency exchange experienced an increase, in its stock value after unveiling its quarter financial report that exceeded market expectations.
Following its September 2023 rebranding, Justin Sun’s cryptocurrency exchange HTX faced two significant hacking incidents, with the latest attack resulting in a $97 million loss.
PayPal, the global payment giant, has made a significant move in the cryptocurrency space by introducing its proprietary stablecoin, PYUSD, to Venmo.
The second-largest stablecoin by market cap, USD Coin, was rescued by the government in March, proving that it can indeed compete with banks.
The collapse of the Silicon Valley Bank (SVB) on March 10 has sent shockwaves throughout the financial sector, with the crypto community turning to Bitcoin as a potential alternative to traditional banking institutions.
The cryptocurrency market has experienced tremendous growth over the past nine years, despite losing more than $1.5 trillion in 2022.
After Paxos, the blockchain company that minted the BUSD stablecoin, announced that it would no longer produce the dollar-pegged crypto asset, nearly $5 billion worth of BUSD stablecoins have been redeemed, reducing the overall supply of BUSD in circulation.