TagPaxos Standard

This Dark Horse Exchange Reports Absurd 90% of PAX/USDT Trading

Paxos, USDT, Crypto

By CCN: Although its volume is excluded, BitMAX reported over $2.5 billion in trades between Paxos Standard and USDT in the 24 hours at the time of writing. One Exchange Reports over 10x Market Cap Traded This is an absurd amount of money changing hands, with some entering USDT and others leaving it. By comparison, Binance’s BTC/PAX market was around $29 million. Most markets were far less than...

Paxos Standard Hassling Ethereum Traders Trying to Redeem Stablecoin PAX for Dollars

The source for this article wishes to remain anonymous. He is one of multiple sources this reporter has spoken to recently. All of them are relatively large-scale traders who have used Paxos Standard. They are a group of five traders. They trade in the millions of dollars per week via multiple exchanges including Binance and Huobi. These are mentioned in this article but aren't the subject of it...

Crypto Industry is Betting Big on the Future of Stablecoins

When merchants started introducing bitcoin and similar digital currencies as one of their payment methods, they quickly encountered a significant problem: price volatility. There were instances like a luxury item dealership, which used to accept bitcoins for their products but saw the value their Ferrari cars jump by almost 33% during a test run. The company, dubbed as The White Company, later...

Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%

tether crypto stablecoin usdt

For a short time yesterday, the Tether stablecoin (USDT) hit 4th place by market capitalization in the cryptocurrency charts. Today Bitcoin (BTC) and other altcoins are showing green. EOS is back in 4th place with a sudden 21% hike, and Stellar (XLM) is now in 5th place with a near 9% price increase. At one point, it appeared that investors were selling out of their stablecoin holdings with some...

Stablecoins are Beginning to See Traction Outside of Crypto Exchanges

crypto stablecoin

According to statistics published in Diar, stablecoins have seen more than 1000% increased transaction activity on-chain since September. This is not to speak to the massive volume at which they are traded internally on crypto exchanges, which numbers in the several billions per day. The statistics are a change from previous times when the majority of Tether (USDT) would sit at Bitfinex or other...

Stablecoin Wars: Bitfinex Adopts 'Neutral' Stance & Lists Major Tether Compeitors

Bitfinex crypto stablecoin

Users of crypto exchange Bitfinex and its associated token-trading platform Ethfinex now have a total of six stablecoin options for trading on either platform. Bitfinex Opens Platform to Tether Competitors As Bitfinex writes, for years the only major option in stablecoins was Tether (USDT), and for quite a while Bitfinex was the only way to cash in your Tether successfully – you’d have to pay...

Paxos Standard: Why the Stablecoin You’ve Never Heard of Just Might Take Down Tether

cash stablecoin paxos standard usd coin gemini dollar

Several months ago, crypto exchange Gemini made waves when it announced that, with permission from the New York Department of Financial Services (NYDFS), it had created a USD-pegged cryptocurrency “stablecoin” that would provider traders and institutions with a “regulated” alternative to tether (USDT), which was frequently the subject of controversy despite having a multi-billion dollar market...

USD-Backed Crypto Tether Re-Enables Direct Withdrawals of Fiat

tether withdrawal usdt crypto

Following an announcement from Bitfinex yesterday regarding their newfound “neutrality” to tether (USDT) and intent to use other stablecoins in addition to USDT, crypto firm Tether has revived its former business model of enabling 1:1 redemption of USDT for USD on its own platform. "Now, thanks to stronger banking as a result of our new relationship with Deltec, Tether is able to return to its...

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