Interesting things are happening in the cryptosphere. USDT issuance on the TON network surpassed $1 billion, while Solana’s price threatens to dive straight to earth with a 40% correction. But it’s not all doom and gloom: the Rollblock (RBLK) crypto presale just surpassed $3.5 million in liquidity amidst bold analysts’ predictions. This Ethereum iGaming protocol […]

The post Rollblock Hits $3.5 Raised, Toncoin USDT Issuance Tops $1 Billion, Could Solana Price Be Set For a 40% Correction? appeared first on TechBullion.

Ripple’s RLUSD stablecoin offers fast, secure payments with multi-chain support, ideal for exchanges and remittance providers.

Ripple’s regulatory focus sets RLUSD apart from USDT and USDC, providing a compliant, stable payment option for businesses.

With quick, safe trading and liquidity solutions for quick-thinking businesses, DeFi is strengthened by Ripple's $10 million investment in Yellow Network.

Ripple is striving to meet the growing demand for faster, more affordable, and secure payment alternatives. When the use of cash goes down, a modern replacement can be provided by introducing efficiency and speed from blockchain technology with faith in the US dollar.

Stablecoins are becoming popular among people and businesses because of their security and utility. Fiat-backed stablecoins are expected to transact $6.87 trillion more than conventional payment networks like Mastercard in 2022 alone.

https://twitter.com/Ripple/status/1836163267732873421 Stablecoins: Enhancing Security and Cutting Costs

Besides being stable, RLUSD—Ripple’s USD-pegged stablecoin—operates on both the XRP Ledger and Ethereum, offering multi-chain issuance and programmable finance. This combination of fast settlement and easy fiat on/off ramps opens up new use cases for remittance providers and exchanges. 

Furthermore, Ripple's emphasis on regulatory compliance sets RLUSD apart from competitors like Tether (USDT) and Circle’s USDC, offering a secure option for developers and institutions.

However, stablecoins aren't just about speed. They reduce reliance on intermediaries, cutting costs for merchants while enhancing security through cryptographic safeguards. This gives users the ability to settle transactions instantly without the risk of double-spending. Moreover, the programmability of stablecoins via smart contracts could inspire innovation, linking today’s Web2 economy to the decentralized Web3 ecosystem.

Ripple’s DeFi Expansion with Yellow Network

Moreover, Ripple is leading the charge in supporting new infrastructure to improve DeFi. Their co-founder, Chris Larsen, recently invested $10 million into Yellow Network, a decentralized clearing network designed to solve liquidity fragmentation. This new decentralized protocol promises near-zero latency, crucial for high-speed trading firms.

Significantly, with Yellow Network’s interoperability and its upcoming $YELLOW token launch, Ripple’s involvement in decentralized finance expands beyond stablecoins. Additionally, Ripple’s regulatory foresight, along with its decade-long crypto-finance expertise, positions RLUSD as a pivotal tool in the future of payments. The ongoing legislative support for stablecoins will also further their mainstream adoption.

Ripple’s commitment to driving the digital asset economy forward is evident. With RLUSD and initiatives like Yellow Network, they are laying the groundwork for a more inclusive and efficient financial future.

The post Ripple’s RLUSD: Revolutionizing Payments with Speed, Security, and Multi-Chain Flexibility appeared first on Crypto News Land.

The authorized USDT issuance of Tether’s stablecoin on The Open Network (TON) has crossed $1 billion, a significant milestone that demonstrates the stablecoin’s and the TON blockchain’s expanding impact. This result demonstrates the growing use of stablecoins and the rapid expansion of TON’s blockchain ecosystem.

According to data from the official transparency report by Tether, the total amount authorized on the TON blockchain is currently $1.03 billion, with $720.6 million circulating and $309.3 million authorized but not issued. This rapid issuance growth actually occurred in the months following Tether’s expansion onto TON at the beginning of 2024.

The integration of USDT onto the TON blockchain is a game-changer for the stablecoin ecosystem. With TON’s fast and scalable infrastructure, we expect to see massive adoption, especially among Telegram’s large user base,” said Paolo Ardoino, CTO of Tether, during the TOKEN2049 conference in April​

TON Secures Its Place as Key Blockchain for USDT

TON, initially developed by Telegram, has grown into one of the top five blockchains by USDT issuance, joining the ranks of Ethereum, Tron, and Solana. Its blockchain, known for fast transaction speeds and low fees, is becoming a popular choice for stablecoin transactions. The integration of USDT has played a pivotal role in TON’s recent surge in popularity.

With this Milestone, TON has moved ahead of several other blockchain networks, such as Near, Tezos, and Cosmos, in terms of USDT locked on the platform​. The TON network’s expanding role in the decentralized finance (DeFi) space underscores its increasing appeal among both developers and users.

According to Tether’s official page, the authorized issuance of USDT on the TON chain has exceeded $1 billion, currently reaching $1,030,000,002, of which the authorized unissued amount is approximately $309,325,516.46, and the net circulation is approximately $720,674,485.54.…

— Wu Blockchain (@WuBlockchain) September 15, 2024

Partnership with Telegram Boosts Adoption

The major reason for the rapid growth of TON is the fact that it is integrated with the popular messenger Telegram, which has over 900 million users. This allows for seamless USDT sending within the app against other cryptos, where Telegram’s big audience faces a lot of difficulties and confusion in using such cryptos due to complex external platforms. Large-scale P2P transactions powered by TON, in turn, plus the immense audience of Telegram users, are considered the main driver for USDT’s chain adoption.

 

TON and USDT are also used within Telegram Mini Apps to power different financial and other services.

For example, the Singapore-based ride-hailing service Tada recently began accepting USDT payments through TON, highlighting the blockchain’s real-world use cases.

Growth of Stable Coin and Market Impact

USDT market capitalization keeps the leading position with more than $118 billion. It is still the most widely used stablecoin for transaction purposes on various blockchains, such as Ethereum, Tron, and, lately, TON. In the first half of 2024 alone, more than $2.5 trillion were settled with the use of stablecoins. That underlines the fact that, finally, their role in the global digital economy finds recognition.

The milestone issuance on TON comes with increasing adoption across the wider crypto market in terms of stablecoins as a preferred medium for day-to-day transactions, especially in so-called emerging markets or jurisdictions whose currency volatility makes the proposition of using stablecoins attractive.

Future Prospects

The recent TOKEN2049 conference in Singapore added more to the developments on TON, including new partnerships and integrations that will make it grow further. Its close relationship with Telegram and the real-world utility of USDT within the platform could drive more users to the network, fueling further issuance and adoption.

But as stablecoins like USDT become an increasingly critical part of the crypto economy, TON’s ability to attract liquidity and users will be a critical factor in its continued success. This is just one of many milestones that TON and Tether plan to achieve as the blockchain continues to expand its offerings and use cases.

In conclusion, the $1 billion USDT issuance milestone on TON represents a significant step forward for both the blockchain and Tether. As the crypto market continues to evolve, TON’s growing role in the stablecoin ecosystem will be one to watch.

FX168 Financial News Agency (Asia Pacific) reported that since September 9, USDT, the world's largest dollar stablecoin, has been trading at a 0.3% discount to the USD/CNY, meaning that investors have been cashing out. Derivatives data show that even as Bitcoin approaches the $61,000 mark, Bitcoin investors lack enthusiasm. #Bitcoin Latest News#

Assessing China's demand for stablecoins is crucial to Bitcoin's performance and can serve as an indicator for traders to enter or exit the cryptocurrency market. The USDT premium measures the difference between the value of USDT and the official RMB-USD exchange rate.

Data shows that demand for stablecoins in China remains weak as USDT has been trading at a 0.3% discount since Sept. 9, suggesting that investors have been cashing out.

Source: CoinTelegraph

Derivatives data show that even as Bitcoin prices approach the $61,000 mark, Bitcoin investors lack enthusiasm. Traders remain skeptical that the bullish momentum can continue, especially before the Federal Reserve announces its September interest rate decision later on Wednesday (September 18), and many are reluctant to increase their positions.

CoinTelegraph pointed out that Bitcoin's price movement is consistent with the S&P 500 index, which hit a record high after macroeconomic data raised the possibility of a 50 basis point interest rate cut by the Federal Reserve on Wednesday. According to the U.S. Census Bureau, U.S. retail sales rose 0.1% month-on-month in August. Meanwhile, industrial production grew 0.8% that month, mainly driven by the recovery of automobiles and parts.

Previously, investors were worried that the U.S. economy was falling into a recession, especially in the consumer sector due to rising financing costs. Some analysts believe that the stock market has entered a bubble stage, and the overvaluation of technology companies and the overleverage of the financial system are factors that led to the bubble. Cracks have appeared in the commercial real estate market. Therefore, the recent pick-up in economic activity helps reduce the risk of a stock market correction.

Currently, the Treasury market is pricing in a 63% chance of a 50 basis point rate cut, up from 34% the previous week, according to the CME Fed Watch tool. However, Stephen Juneau, senior U.S. economist at BofA Securities, said the data released on Tuesday did not significantly change the Fed's view of the economy, according to Yahoo Finance.

To assess whether Bitcoin traders have turned bullish, one must examine the Bitcoin futures premium. In a neutral market, these instruments have an annualized premium of 5% to 10% to compensate for their extended settlement period.

Source: Laevitas.ch

Data shows that the Bitcoin futures premium stabilized at 6% after approaching the neutral 5% level on Monday. Despite the price increase from $57,675 to $61,330, investor sentiment remains cautious. Therefore, whether $61,000 becomes a support level remains a question as traders still lack confidence.

To determine whether this sentiment exists only in the futures market, the Bitcoin options skew indicator should be cross-checked. When arbitrage desks and market makers charge excessive fees to protect downside risk, the 25% Delta skew indicator tends to rise above 6%. Conversely, a -6% Delta skew is usually seen during periods of excitement.

Source: Laevitas.ch

Currently, the 25% skew for Bitcoin options is close to 2%, indicating that put (sell) options are priced similarly to call (buy) options. This neutral sentiment has persisted over the past week, with the last time it was outside this range being on September 6, when Bitcoin briefly traded below $54,000.

Tether has invested $1.5 million in Sorted Wallet, a platform that helps people in emerging markets access crypto using simple mobile phones.

According to a Tether (USDT) post, this investment aims to increase financial inclusion in regions such as Africa and Southern Asia, where many lack access to traditional banking.

You might also like: Web-3 game UNKJD Soccer partners with PUMA for exclusive in-game content

What is Sorted Wallet? 

Sorted Wallet allows people without bank accounts or limited banking options to use crypto. It works on basic mobile devices, enabling users to store, send, and receive crypto. The platform doesn’t control users’ funds, making it a secure option for those in developing regions.

Cryptocurrency has become important in areas where traditional banking is limited. In places like Africa and parts of Asia, many people rely on crypto to make faster, cheaper payments and protect their money from unstable local currencies. It also offers an alternative to traditional banking, which can be expensive or inaccessible.

Tether’s CEO, Paolo Ardoino, said this investment helps expand financial services to underserved communities. 

“By supporting Sorted Wallet, we unlock new opportunities for individuals with basic mobile phones to participate in the financial system. Our goal is to ensure that everyone, regardless of location or phone type, can securely manage and utilize cryptocurrency, empowering them to build a more secure financial future and actively engage in the evolving digital economy.”

Paolo Ardoino

In June, Tether invested $18.75 in cross-border crypto exchange XREX to support USDT-based payments in emerging markets. XREX planned to use the funds to enhance cross-border business payments and collaborate with the Unitas Foundation to launch a gold-backed stablecoin.

This investment followed Tether’s expansion efforts in Eastern Europe and the UAE.

You might also like: Bitcoin mining stocks jump as crypto fear and greed index rises