Tag:

Network

Ethereum Revenue Drops but Analysts Say Network Still Strong
Crypto Trends

Ethereum Revenue Drops but Analysts Say Network Still Strong

by admin



A Messari analyst sparked heated debate over the weekend after declaring Ethereum is “dying” as network revenue declined in August.

In an X post on Saturday, Messari research manager AJC stated that “Ethereum’s fundamentals are collapsing,” as Ethereum’s revenue from fees in August was $39.2 million, down over 40% year-over-year and approximately 20% month-over-month.

Source: AJC

But many who read the post disagreed, pointing to Ethereum’s rising metrics, app revenue, stablecoin supply, continued L2 scaling and a distinction between Ethereum being a commodity, rather than a tech stock — meaning it shouldn’t be valued based on revenue. 

Ethereum is still a vibrant ecosystem  

A large part of Ethereum’s fall in revenue has come as a result of the Dencun upgrade in March 2024, which lowered transaction fees for layer-2 scaling networks using it as a base layer to post transactions.

Speaking to Cointelegraph, Henrik Andersson, chief investment officer of investment firm Apollo Crypto, said it is unlikely Ethereum is dying, because data from Ethereum L2s analytics tool growthepie shows it’s still “a vibrant ecosystem with stablecoin supply, throughput, and active addresses are all at or close to all-time high.” 

As of Aug. 30, there were also over 552,000 daily active addresses on Ethereum according to investment research platform YCharts, representing a 21% increase since the same time in 2024. 

There were over 552,000 daily active addresses on Ethereum as of Aug. 30. Source: YCharts

“We believe both Ethereum and Bitcoin have a place in a crypto portfolio,” Andersson said. 

“Ethereum is becoming the neutral decentralized base layer for finance and just like Bitcoin is not valued on revenue but as a store of value, we don’t believe Ethereum can be valued solely on its revenue.”

In response to critics, however, AJC defended his use of revenue to value the layer-1 blockchain, explaining that because it’s collected in Ether (ETH), one of the largest historical demand drivers of consumption is now “trending toward zero.” 

At the same time, AJC argued that active addresses and transactions are “meaningless statistics as it pertains to demand.” 

Ethereum has been declared “dead” 40 times this year

Ethereum has been declared by various sources at least 150 times since 2014; most of these deaths have been recorded this year, with about 40, according to Ethereum Obituaries.

Ethereum has been declared dead 150 times before ACJ’s post. Source: Ethereum Obituaries

Ryan McMillin, chief investment officer at Merkle Tree Capital, told Cointelegraph that Ethereum continues to adapt and is generally declared dead in moments of narrative weakness, falling fees, transaction trending lower, or when competitors outpace it.

He said that in theory, because smart contracts are a competitive sector, developers and capital could slowly but permanently migrate elsewhere.

“But in practice, its developer community, entrenched DeFi protocols, and regulatory acceptance give it more staying power than the obituaries suggest; its current narrative is it will be the TradFi chain of choice, although the SOL ETF may disrupt that too,” McMillin said. 

“The bigger story is that crypto is maturing into an ecosystem of differentiated assets, and Ethereum will remain one of the central pieces for years to come, and competition with other L1s is very healthy.” 

McMillin said he doesn’t think Ethereum is “dying,” but said it has been stuck in a “difficult spot” for nearly two years because it’s trapped between Bitcoin’s narrative as digital gold and Solana’s pitch as the faster, cheaper alternative. 

Related: Ether whales have added 14% more coins since April price lows

“Ethereum’s ultra-sound money framing was never going to win against Bitcoin’s harder monetary premium, and when it comes to throughput and cost, Solana simply offers magnitudes of improvement,” he said. 

One area that has helped Etherum in 2025 is its spot exchange-traded funds, which unlocked traditional finance flows and positioned Ether as a levered play on stablecoin adoption and network growth, according to McMillin.

“But that advantage may not last long, spot Solana ETFs are expected in the coming weeks, which could quickly level the playing field for mainstream capital inflows.” 

Magazine: Korean bill to legalize ICOs, Chinese firm’s Ethereum RWAs mystery: Asia Express



Source link

0 comments
0 FacebookTwitterPinterestEmail
why $0.35 support can spark a reversal
NFT Gaming

Pi Network price wavers as another catalyst falters

by admin



Pi Network’s price remains stuck in a tight range, ignoring major bullish catalysts. 

Pi Coin (PI) token was trading at $0.3440 on Sunday, Sep. 7, a range it has remained at since August.

Summary

  • Pi Network token has moved sideways in the past few days.
  • The recently launched Valour Pi ETP has attracted just $1,967 in assets. 
  • Pi has ignored other major catalysts in the past few months.

Valour Pi Fund demand wanes

Pi Network price has ignored several major catalysts. Its price crashed in May when the developers launched the $100 million Pi ecosystem fund. This fund is meant to invest in applications in its ecosystem, which will boost its utility. 

Pi coin price reacted mildly to the recently launched Pi AI Studio, which enables developers to build AI applications and agents. 

Most recently, the coin retreated after the developers launched an upgrade to align with Stellar Protocol 23. 

Now, one of the recent catalysts is faltering as demand for the Valour Pi Fund wanes. Launched two weeks ago, the fund aims to give retail and institutional investors access to Pi Network. 

Data on its website shows that the fund has accumulated just 18,483 SEK and has dropped by 7.57%. 18,483 SEK is equivalent to $1,967, which is a tiny amount considering that Valour has over $900 million in assets under management and Pi has a market cap of over $2.7 billion. 

The Pi coin price has fluctuated due to ongoing token unlocks and the lack of major exchanges listing it since the mainnet launch in February.

Pi Network price technical analysis 

Pi token chart | Source: crypto.news

The eight-hour chart shows that the Pi Network price could be at risk of a bearish breakout. It has dropped below the 50-week exponential moving average, a sign that the bearish trend is still intact.

The coin is also in the process of forming a bearish flag pattern, which is made up of a vertical line and a horizontal consolidation. 

Pi remains below the Ichimoku cloud indicator, while the Relative Strength Index has moved below the neutral line of 50. Therefore, there is a likelihood that the coin will have a bearish breakout in the near term.

This outlook will be confirmed when it plunges below the support at $0.3327, where it formed a double-bottom pattern. 



Source link

0 comments
0 FacebookTwitterPinterestEmail
Solana-Approves
GameFi Guides

Solana Approves Alpenglow Upgrade to Boost Network Speed

by admin



The Solana network has voted to approve the new Alpenglow consensus protocol. The proposal, known as SIMD-0326, passed with 98.27% support, far exceeding the required 66.67% threshold. 

According to a post by Solana Status on X, “The community governance process for SIMD-0326: Alpenglow is complete. The proposal has passed: 98.27% voted Yes, 1.05% voted No, 0.69% voted Abstain. 52% of stake cast a vote.” This shows strong validator participation and overwhelming support for the changes.

The community governance process for SIMD-0326: Alpenglow is complete. The proposal has passed:
98.27% voted Yes
1.05% voted No
0.69% voted Abstain
52% of stake cast a vote

— Solana Status (@SolanaStatus) September 2, 2025

Alpenglow Introduces Votor and Rotor

The Alpenglow protocol, developed by infrastructure firm Anza, will replace Solana’s current systems: Proof-of-History and TowerBFT. Currently, Proof-of-History timestamps transactions to keep them in order, while TowerBFT manages the voting process for consensus.

The upgrade unveiled on Monday introduces two powerful components — Votor and Rotor. Votor will slash transaction finality times from over 12 seconds to just 150 milliseconds, giving users near-instant confirmations.

Rotor, which will launch later, will reduce data transfers between validators, making it ideal for high-demand sectors like DeFi and blockchain gaming.

Kyle Samani, Managing Partner at Multicoin Capital, highlighted the importance of the upgrade. “Alpenglow is the most significant rewrite of the Solana protocol to date. Its passage today paves the way for faster processing and finality, and for internet capital markets to emerge,” he said.

He added, “Alpenglow will be an important mile marker on our way to 1 million transactions per second.”

Market Impact and Next Steps

As Solana prepares to roll out the upgrade, its price has seen slight movement. According to CoinMarketCap, at the time of writing, Solana is valued at $201.38. A 0.89% dip was witnessed over the last 24 hours, with the trading volume reaching $3.69 billion.

The upcoming Alpenglow upgrade for Solana aims to enhance its speed and scalability. Hence, Solana can compete with top networks and draw in high-volume applications.

Also Read: Fonte Capital Launches First Solana ETF with Staking on AIX





Source link

0 comments
0 FacebookTwitterPinterestEmail
20,311,173 SHIB Burn Shakes Up Network With Massive Key Index Surge
GameFi Guides

20,311,173 SHIB Burn Shakes Up Network With Massive Key Index Surge

by admin


  • 20.3 million SHIB dissolved from supply
  • SHIB price crashes following Bitcoin drawdown

The Shiba Inu community continues to gradually diminish the circulating SHIB supply by conducting regular burns. According to fresh data shared by the Shibburn portal, over the past week, a significant portion of these meme coins has been pushed out of circulation for good.

Meanwhile, over the past day, the SHIB price has displayed a mild decline after failing to continue the 1.9% rise on Friday.

You Might Also Like

20.3 million SHIB dissolved from supply

In a recent tweet, the aforementioned blockchain tracker revealed that over the past seven days, the Shiba Inu community has managed to dispose of a substantial meme coin batch as 20,311,173 SHIB were transferred to unspendable blockchain addresses.

This helped to drive the weekly burn rate by 43.66%, while the daily one has gone down by 97.15% due to a very small amount of SHIB burned over the past 24 hours. Since last morning, the community has so far managed to burn 69,808 SHIB.

HOURLY SHIB UPDATE$SHIB Price: $0.00001229 (1hr -0.15% ▼ | 24hr -0.08% ▼ )
Market Cap: $7,242,999,177 (-0.06% ▼)
Total Supply: 589,247,711,761,922

TOKENS BURNT
Past hour: 69,613 (2 transactions)
Past 24Hrs: 69,808 (-97.15% ▼)
Past 7 Days: 20,311,173 (43.66% ▲)

— Shibburn (@shibburn) September 6, 2025

SHIB price crashes following Bitcoin drawdown

In the meantime, the price of the prominent meme-themed asset, SHIB, has dropped mildly, losing 1.67% today. This price decline was likely triggered by Bitcoin’s drawdown as BTC sharply fell by 2.4% on Friday, losing the $113,250 mark and landing at $110,560. It has been moving in that price range so far. The decline happened in a single mammoth red candle on an hourly chart.

SHIB’s price fall, also marked by a huge red candle, followed a similar rise of 3.83% as the meme coin strove to surpass the $0.00001248 resistance level. At the time of this writing, SHIB is changing hands at $0.00001225.





Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
Crypto Trends

Linea: Everything You Need to Know About the Ethereum Layer-2 Network Airdrop and Token

by admin



In brief

  • The LINEA token will begin its airdrop process on September 10.
  • More than 9 billion tokens will be available to early users when the claim opens.
  • An additional 75% of the total supply will ultimately be distributed to ecosystem participants.

Ethereum layer-2 network Linea aims to use its upcoming LINEA token as an incentive to draw the world’s capital to Ethereum. 

Described by backers as the most Ethereum-aligned layer-2 network, Linea will offer native yield to ETH stakers, as well as an ecosystem fund made up of around 54 billion LINEA tokens to draw users to its network. 

Linea’s long-awaited token generation event (TGE) is coming on September 10. Here’s a look at everything you need to know about what the LINEA token is and who can claim it.

Five weeks ago, Ethereum celebrated 10 years of zero downtime. Next week, LINEA becomes the most significant token to enter the ecosystem since ETH itself.

The eligibility checker is now live ahead of the September 10 TGE.

Check yours at https://t.co/GDV3kRe0Kf pic.twitter.com/emB8WlqCNF

— Linea.eth (@LineaBuild) September 3, 2025

What is the LINEA token?

Distributed by Swiss nonprofit the Linea Association, LINEA is the native token of the Ethereum layer-2 network of the same name. The network was developed by Ethereum software development firm, Consensys, and Linea is described an “extension” of the established layer-1 network. (Disclaimer: Consensys is one of 22 investors in an editorially independent Decrypt). 

Unlike other layer-2 network tokens, LINEA will not act as the native gas token for the Linea network. Instead, Linea will use ETH as its gas token to pay transaction fees. The LINEA token also differentiates itself from other layer-2 network tokens, as it does not have any governance powers and it is subject to a buyback and burn mechanism. 



In other words, using a portion of the ETH revenue it earns from transaction fees, the network will buy LINEA and subsequently burn it, or effectively remove it from the circulating supply. 

The token will maintain a total supply of 72,009,990,000 LINEA, or 10 times the initial circulating supply of Ethereum. 

When is LINEA dropping?

The LINEA token generation event (TGE) will take place on September 10, at which point any eligible airdrop participants can begin the claim process. 

Eligible parties will have up to 90 days to claim their LINEA tokens. After that time, any unclaimed LINEA tokens will be added to the ecosystem fund and subsequently distributed by the Linea Consortium. 

Who will get the LINEA airdrop?

The LINEA token will be distributed in three major buckets: early users, ecosystem participants, and the Consensys treasury. 

10% Early Adopters

Early users of Linea’s network that earned points via the Linea Voyage and Linea Surge campaigns are eligible to claim their respective share of around 10% of the LINEA supply. In order to be eligible, campaign participants must have achieved at least 2,000 points in the Voyage campaign and 15,000 points in the Surge campaign. 

This criteria and the elimination of around 800,000 sybil wallets, or those who tried to game the system to earn the token, left around 750,000 eligible wallets to split 9.3 billion LINEA tokens. 

A further 1% of the early adopters bucket is set aside for strategic builders in the Linea ecosystem, but those tokens will be directly distributed and will not be claimed as part of the airdrop.

An airdrop eligibility checker was released by Linea on September 3. 

75% Linea Ecosystem Participants

The largest chunk of LINEA tokens, 75% of the total supply, will be awarded to active participants within the Linea ecosystem and distributed by a collective body of Ethereum-aligned entities dubbed the Linea Consortium. 

Made up of firms like publicly traded Ethereum treasury SharpLink Gaming, ENS Labs, Eigen Labs, and Consensys, the consortium is mandated to distribute the ecosystem fund to those helping propel the Linea network and Ethereum. 

“It’s users, it’s builders, it’s liquidity providers, it’s institutions, it’s creators… anything or anyone that’s going to help make Ethereum and Linea successful,” Head of Linea Declan Fox told Decrypt in July. 

Small portions of the 75% have already been approved for distribution by the consortium, including 4% at TGE for liquidity providers during the Linea Surge event. Distribution of a further 1 billion LINEA tokens was approved as part of Linea Ignition, a liquidity bootstrapping event running through October 26. 

15% Consensys Treasury

The final 15% of the LINEA supply is set aside for Consensys, the development firm that incubated the layer-2 network. All 15% of the tokens set aside for the software firm are locked up for five years.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.





Source link

0 comments
0 FacebookTwitterPinterestEmail
Fireblocks Launches Stablecoin Network Amid $200B Monthly Volume Surge
GameFi Guides

Fireblocks Launches Stablecoin Network Amid $200B Monthly Volume Surge

by admin



Crypto custody firm Fireblocks has rolled out its own stablecoin payments network, targeting the inefficiencies of today’s scattered infrastructure. The platform connects issuers, banks, fintechs, and liquidity providers, and already handles over $200 billion in transactions monthly, according to the company. 

The move positions Fireblocks at the center of one of 2025’s fastest-growing segments: enterprise-grade stablecoin settlements.

A SWIFT-Style Push for Stablecoins

Described by Fireblocks as a “stablecoin SWIFT”, the new infrastructure is designed to eliminate fragmentation across current stablecoin systems. Instead of routing transactions through disconnected on/off-ramps and opaque platforms, Fireblocks’ network offers a unified payments layer for digital dollars.

The company said more than 40 participants have already onboarded, including Circle—issuer of USDC and Bridge, a stablecoin platform acquired by Stripe in 2024. Combined, these partners already process over $200 billion in monthly stablecoin payments.

“The existing rails are too scattered to support institutional scale,” Fireblocks said in Thursday’s announcement. “This network is built to fix that.”

Stablecoins Surge Past $280 Billion

The timing aligns with explosive growth across the stablecoin sector. According to data cited by Grayscale, total monthly stablecoin settlement volume hit $800 billion in June. Meanwhile, the market cap of stablecoins jumped from $200 billion in January to $280 billion in August, reflecting institutional demand for fast, dollar-pegged settlements.

Competing players such as Circle and Stripe are also building side infrastructure. Circle rolled out its own stablecoin payments network in April, while Stripe has leaned heavily into Bridge, acquired to support stablecoin and tokenized asset flows. Both companies are also building their own proprietary blockchains.

Broader Impact

Fireblocks’ move puts it in direct competition with some of the biggest names in stablecoin infrastructure. As transaction volumes climb and compliance frameworks tighten, whoever controls the payments backbone stands to define how digital dollars scale globally.

If the SWIFT comparison holds, Fireblocks may be setting the foundation for a cross-border, bank-grade standard in stablecoin settlement—and claiming a first-mover edge in the next phase of crypto-native finance.

Also Read: Mega Matrix Files $2B Shelf to Buy Governance Tokens



Source link

0 comments
0 FacebookTwitterPinterestEmail
Patrick Collison (Getty images)
GameFi Guides

Fireblocks Unveils Payments Network as SWIFT for Stablecoins

by admin



Crypto custody heavyweight Fireblocks has unveiled its own payments network to help participants move stablecoins around.

The Fireblocks Network for Payments is designed to combine on- and off-ramps, liquidity providers, banks and stablecoin issuers with higher efficiency and lower risk than currently exists when providers use more fragmented and disperse systems.

The network’s participants already number more than 40 and include Circle (CRCL), developer of USDC, and stablecoin platform Bridge.

Fireblocks described the new network as a stablecoin equivalent to SWIFT, which enabled banks around the world to more easily send money across borders, in an announcement on Thursday.

The network combines for over $200 billion in stablecoin payments each month, Fireblocks said. The monthly total for all stablecoin payments reached $800 billion in June, according to research cited by Grayscale.

Stablecoins, crypto tokens which are pegged to the value of a traditional financial asset such as a fiat currency, have undergone a boom in 2025, climbing to a market cap of over $280 billion in August from around $200 billion at the start of the year.

The proliferation of the sector has seen its largest players develop their own payments platforms to supplement this growth further. Stripe acquired Bridge last year to serve as its stablecoin platform, while Circle unveiled its own payments network in April.

Both firms are also developing their own proprietary blockchains for stablecoins and tokenized assets.



Source link

0 comments
0 FacebookTwitterPinterestEmail
XLM/USD (TradingView)
NFT Gaming

Stellar Lumens Gains 3% Ahead of Network Infrastructure Overhaul

by admin



Stellar Lumens (XLM) extended its recent rally over the past 24 hours, climbing 3% as buyers absorbed heightened selling pressure and pushed the token into fresh resistance levels. Between Sept. 1 at 15:00 UTC and Sept. 2 at 14:00 UTC, XLM advanced from $0.36 to $0.36, with volatility of 5% underscoring active participation.

The asset found support at $0.35 following a brief wave of selling before consolidating in the $0.36 range. Resistance emerged around $0.37, where the market saw two rejection points, though trading volumes above the daily average of 31.2 million tokens signaled sustained institutional interest.

The bullish structure carried into the final hour of the session, when XLM gained 2% from $0.36 to $0.37. The move was bolstered by a volume spike of 2.7 million units at 14:00 UTC, enabling the token to briefly pierce the $0.37 ceiling before stabilizing above $0.36. The breakout reinforced the 24-hour trend and suggested buyers are building a foundation for further upside if volume momentum continues.

At the same time, leading South Korean exchanges Bithumb and Upbit said they will suspend XLM deposits and withdrawals beginning Sept. 3 at 09:00 UTC. The move is part of preparations for Stellar’s Protocol 23 upgrade, which aims to modernize network infrastructure and expand interoperability.

Protocol 23 has been framed as a step toward broadening Stellar’s utility for real-world assets, of which roughly $460 million are already circulating on the network. The synchronization of price gains with network enhancements highlights a growing narrative of enterprise adoption.

CoinDesk Data’s technical analysis model note that the consolidation above $0.36, combined with systematic accumulation around key support levels, points to ongoing institutional positioning that could pave the way for a sustained move beyond $0.37.

XLM/USD (TradingView)

Market Analysis Reveals Strengthening Corporate Interest
  • Price established fundamental support at $0.35 during heightened selling pressure on September 1, 21:00.
  • Robust accumulation activity developed between $0.36-$0.36 following decisive market recovery.
  • Resistance parameters identified at $0.37-$0.37 where price encountered dual rejection events.
  • Trading volume increases above 24-hour average of 31.20 million validated institutional market participation.
  • Asset maintaining consolidation within ascending price channel formation.
  • Breakout potential above $0.37 resistance dependent upon sustained volume validation.
  • Trading momentum accelerated during 13:35-13:46 session with decisive upward movement.
  • Enhanced support structure established around $0.36-$0.36 price levels.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



Source link

0 comments
0 FacebookTwitterPinterestEmail
 Is Pi Network price ready for a bullish reversal?
GameFi Guides

Pi Network price eyes $1 breakout as key catalysts align

by admin



After plummeting from a $20 billion market cap to just $2.7 billion following its February mainnet launch, Pi Coin’s price could surge to $1 in September, driven by several key catalysts—including a crucial network upgrade and growing institutional interest.

Summary

  • Pi Network price could surge to $1 in September, helped by top catalysts.
  • It has formed a bullish double bottom and falling wedge patterns.
  • The upcoming Pi upgrade and potential exchange listings may push it higher.

Pi Network price catalysts for September

Pi Coin (PI) is on the cusp of a significant price move, trading at $0.366 on Saturday, Aug. 30, slightly above its recent low of $0.3167. Its market value has plunged from nearly $20 billion after its mainnet launch in February to $2.7 billion. 

The Pi coin value could jump to $1 in September, driven by several key catalysts. First, Pi Network will launch a crucial network upgrade as part of Stellar’s movement to Protocol 23. Pi, which utilizes the Stellar Consensus, will upgrade from version 19 to 23, enabling additional functionality for the network. 

One of the top functionalities is that the upgrade will allow the KYC authority to be assigned in the future. In other words, it will provide a more distributed and community-driven KYC process. The upgrade will also make it easy for developers to build and launch apps on the Pi Network.

The other potential catalyst is the potential institutional interest in Pi. For example, Valour, a company with over $1 billion in assets, became the first one to launch a PI ETP in Sweden. 

This institutional adoption may also prompt at least one major crypto exchange, such as Coinbase and Binance. An exchange listing would lead to a parabolic move as some tokens like Story and Ethena. 

Pi Network price will also benefit from macro factors, such as the potential interest rate cuts by the Federal Reserve. Historically, these cuts have led to greater gains among riskier assets, such as cryptocurrencies and stocks. 

Pi Coin price has strong technicals

Pi coin chart | Source: crypto.news

The other main catalyst for the Pi Network price in September is that its technicals are highly supportive. Its daily chart shows that it has formed a double-bottom pattern at $0.3167, its lowest level on Aug. 1 and 25, and a neckline at $0.4646. A double-bottom is a common bullish reversal sign. 

Pi Network price has also formed a falling wedge pattern and is in the accumulation phase of the Wyckoff Theory. A wedge is formed by two descending and converging trendlines, potentially resulting in a breakout to the psychological point at $1, which is over 180% above the current level. 



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
Crypto Trends

Tether Brings USDT to Bitcoin Via Layer-2 Network RGB

by admin



In brief

  • Stablecoin giant Tether is bringing USDT to the Bitcoin network.
  • Users will be able to spend their stablecoins on Bitcoin’s network via the RGB protocol.
  • Tether says it wants Bitcoin to be “everyday money.”

Stablecoin giant Tether is pushing further into the Bitcoin ecosystem, announcing on Thursday that it would make its USDT token available on the largest crypto network via the RGB protocol.

RGB allows users to issue assets on the blockchain, opening “the door for stablecoins to exist natively on Bitcoin,” Tether said in a press release. 

“For Tether, this means USDT can be transacted directly on the world’s most secure and decentralized network, bringing fast, private, and lightweight payments to billions of people globally,” the company said in the release. 



The announcement comes nearly eight months after Tether said that it was making its main crypto product available on the Bitcoin blockchain via Lightning, a Layer 2 network that aims to speed up transactions. That integration marked a significant milestone for both Tether and Bitcoin, two dominant forces in crypto that had yet to combine forces.

It also follows positive developments for stablecoins, most notably the passage of the Genius Act that sets U.S. guidelines for the tokens. U.K. bank Standard Chartered has predicted that stablecoins’ market capitalization will triple by the end of 2026. 

RGB (Real Good Bitcoin) uses smart contracts allowing functions to be executed on a blockchain and contain code that powers autonomous crypto applications, meme coins, and more. They have been available on other crypto networks, like Ethereum.

Tether said RGB was designed to make Bitcoin foundational for daily transactions. Users will be able to keep their stablecoins and BTC in the same wallet and make transactions offline. 

“Bitcoin deserves a stablecoin that feels truly native, lightweight, private, and scalable,” said Paolo Ardoino, CEO of Tether. “With RGB, USD₮ gains a powerful new pathway on Bitcoin, reinforcing our belief in Bitcoin as the foundation of a freer financial future.”

El Salvador-based Tether mints USDT, the fourth-biggest cryptocurrency with a more than $167 billion  market cap and generally the most-traded digital asset. Most stablecoins are pegged to the value of the U.S. dollar.

Tether keeps a vault of dollar reserves. 

Crypto traders use stablecoins to execute transactions seamlessly without using a traditional bank. 

But Tether says USDT is now also used by people in emerging markets with weak currencies who want exposure to U.S. dollars.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close