🦎🚀 Which stablecoin will survive? 💰

Tuesday, August 8, 2023

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An Old Giant Steps Into The Fray

PayPal, a major player in the payments industry, has unveiled its own dollar-pegged stablecoin named PayPal USD (PYUSD), signifying a notable entry into the cryptocurrency realm.

PYUSD is supported by short-term treasuries, dollar deposits, and cash equivalents, as detailed in the company's announcement, and will be minted on the Ethereum network as an ERC-20 token.

In today's news, 2,500 ETH goes up in flames, Reddit tokens soar after Kraken, and another Solana protocol suffers an exploit.

Read on!

Market Share of Centralized Cryptocurrency Exchanges

Binance continued to dominate the centralized cryptocurrency scene in 2023 Q2. However, its market share has continued to fall, having started at 63.1% in January, down to 51.7% in June.

Has its competitors managed to gain market share from it?

Read more to find out!

24h Hot Searches Worldwide

Bitcoin (+0.5%)
BeNFT Solutions (+56.9%)
Akash Network (+15.6%)
DODO (+61.3%)
Unibot (+13.0%)
Yield Guild Games (-36.3%)
Worldcoin (-5.5%)

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Did you know that Bitcoin also has an ecosystem built around it via sidechains and layer 2's?

Learn more about how they work and the top platforms in this video.

Let's find out here!

Ultrasound Money

Observers in the crypto space were taken aback when an unidentified individual, utilizing the ENS name nd4.eth, transferred 2,500 Ether (equivalent to approximately $4.5 million) to a burn address.

This act effectively destroyed the coins for no specific reason.

The exact motive behind this burn remains unknown.

The Block

Unleash the Kraken

The native currencies of two Reddit communities, namely MOON and BRICK, experienced significant growth on Monday following the commencement of trading for these tokens on the cryptocurrency exchange Kraken.

MOON and BRICK tokens are granted to users based on their involvement within their respective online communities.

Participants can accumulate these tokens by creating content and engaging in discussions while also having the option to tip other users using these currencies.

Decrypt

Cracking the Cypher

The Solana-based decentralized futures exchange Cypher Protocol temporarily suspended its smart contract following an exploit that resulted in an approximate loss of $1 million.

The team has initiated an investigation into the exploit's origins and has contacted the hacker to negotiate a potential return of stolen funds.

Cointelegraph

Building an Ethereum dApp? 🏗️

Displaying real-time token price data in your dApp can take your project to the next level and allow users to engage with dynamic features seamlessly – yet, it is not without its challenges.

In this guide, learn what to look out for when assessing crypto API providers for your Ethereum dApp (and why CoinGecko's comprehensive API might just be the solution!). We'll also cover popular CoinGecko API endpoints commonly used by developers and projects.

Read more here.