You can also read this news on COINTURK NEWS: Bitcoin Holds Steady Above Support As Coinbase Expands Altcoin Offerings
Bitcoin ‘s price recently touched a new daily low at $112,380, but it remains just above its support level. The dynamic landscape of cryptocurrency exchanges continues to evolve, with platforms striving to present more alternatives to their users. Coinbase, one of the prominent players, is actively enhancing its list of offerings through frequent additions.
Notably, Coinbase has made a fresh announcement, adding a new altcoin to its listing roadmap. This move signifies the potential availability of a new trading option in the exchange within hours. Particularly crucial is the USD1 Token announcement made by the WLFI initiative, started by the Trump family which underscores the stablecoin’s significance.
The broader financial and crypto sectors are witnessing an increased trend of banks, corporations, and crypto protocols launching their stablecoins. Tether’s USDT and Circle’s USDC stand as exemplary, each boasting a valuation extending into billions. Entities holding U.S. treasury bonds as collateral earn profits from these holdings.
USD1, now the 43rd largest asset by market cap, recently surpassed the $1 billion threshold. At the time of writing, it boasts a circulation supply of 2.39 billion with a daily trading volume exceeding $300 million. Major exchanges like Binance and Uniswap are already actively trading this new stablecoin option.
The stablecoin’s peg to the dollar has mostly been maintained, symbolizing another of the Trump family’s ventures in the crypto domain. This expansion reflects a consistent trend across the industry as the demand for stable, reliable digital assets grows.
Coinbase’s latest listing efforts show their commitment to providing a dynamic trading environment, catering to a broad spectrum of traders and investors. The developments echo larger movements in the world of crypto, where digital currencies continue to intersect with traditional financial practices.
In such a rapidly evolving space, the active engagement of prominent figures and families highlights the mounting trust and perception of cryptocurrency as an integral component of future financial systems. As stablecoins like USD1 gain traction, they have the potential to influence market dynamics significantly.
The listing and success of such stablecoins could pave the way for further integration of cryptocurrencies into everyday financial transactions, enticing a broader audience to engage with these digital assets in various capacities.
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By COINTURK NEWS
about 5 hours ago
