Once Wall Street moves towards decentralized finance
This is what Gemini investor and CEO Tyler Winklevoss said, he predicts that competition between stablecoins will start seriously once Wall Street plunges into decentralized finance, or DeFi.
In a recent interview with The Defiant.
"When Wall Street wants to start investing in decentralized finance, they will need a currency. When a decentralized Real Estate Investment Trust pays a dividend or a share, will it pay investors in Ether? Probably not for volatility, but in a stablecoin. "
However, Tyler gave a harsh and realistic assessment of many existing stablecoin projects, stating:"Many of these stablecoins just put their own cash deposits to increase assets under management to give this perception that it's bigger than it is. I think it's kind of crap. People see through it."
Generating profits is a fundamental crypto value proposition
Tyler Winklevoss also focused on the value proposition offered by crypto assets through the offering of interest returns from staking or DeFi protocols amid the decline of the global economy, stating:
"Super important in this environment with zero interest rates, maybe negative interest rates, potentially hyperinflation, the ability to make profits anywhere like 5%, 6%, whether it's staking or you know, a DeFi money market, "he declared.
New transactions record
The main stablecoins by market capitalization have maintained their growth in recent weeks.
The demand for stablecoins led to a considerable increase in the issuance of new tokens, driven mainly by Tether (USDT), but also by others, including the USDC, which have experienced significant growth in the last three months.
Total market capitalization on major exchanges is now nearly $ 12 billion. This represents a significant increase of 242.85% over last year when the total market value was around $ 3.5 billion.
USDT maintains leadership in stablecoin's market share, followed by USDC and PAX.
The largest decentralized stablecoin by market value is DAI, driven by the increase in use of DeFi protocols, which continue to increase and attract the attention of the market.
And as we read earlier for one of the Winkleboss twins he believes DeFi protocols and the growth of the industry will occur when Wall Street embraces the idea.
Argentines dance tango with bitcoin
In Argentina, restrictions to buy foreign currency continue to tighten. The weight constantly loses value and the opportunities are for those who take them and
from the signing of SatoshiTango they pointed out.
"Don't get caught by the stocks of the MEP Dollar and CCL: Go to the Digital Dollar now",
It should be noted that:
MEP means "electronic payment market". This quote is also known as a "dollar exchange". It is obtained through the purchase of a bond that is quoted in pesos, but which is convertible to the same bond that is quoted in dollars, and could be sold in hard currency.
On the other hand, CCL is the acronym for the quotation of "cash with liquidation" or "cash with liqui". It is a tool that allowed to exchange pesos for dollars abroad.
By having more and more restrictions by the Government in the purchase of US dollars.
From SatoshiTango they began to invite citizens to look for alternatives. One of them is the stablecoin DAI.
"I invested in the digital dollar: The Dai, or Digital Dollar, is a cryptocurrency tied to the value of the US dollar. At any time you can exchange the Dai for their equivalent in dollars ”,
There is an increasing use in DeFi
The use of Tether (USDT) in decentralized finance (DeFi) appears to be increasing, as the Aave loan protocol reports more than $ 7.2 million insured in USDT, out of a reported total of $ 60 million in assets.
Tether's deposit interest rate is one of the highest among competitors, with a 30-day average of 6.2% annual interest. This is significantly higher than the average DAI of 3.2%, but lags behind the average annual return percentage of 8.9% for sUSD. At the time of writing, all stablecoins show instantaneous interest rates of around 3.5%.
This result comes two months after Tether's initial launch on the platform, which offers a wide range of other stablecoins, including Dai (DAI), USD Coin (USDC), sUSD, and TrueUSD (TUSD).
Tether is currently by far the most widely used and issued stable currency, exceeding recently outperforming XRP to reach third position in the ranking by market capitalization.
“Now that we see more traction for DeFi from Asia, USDT is recovering. Also the fact that the use of DeFi is expanding to non-DeFi cryptocurrency users is strengthening USDT liquidity, ”said Stani Kulechov, the CEO of Aave, that the initial success of the USDC is attributable to the Bootstrap Fund of Coinbase, launched in September 2019, which injected liquidity into the USDC into the system. added Kulechov
