The latest crypto news show that stablecoins are still in the focus, after a Singaporean crypto exchange named Switcheo announced over the holiday period that it now supports the Alchemint launched SDUSD stablecoin. This dollar-pegged coin was created in order to hold the value of $1 and is naturally locked to the NEO altcoin.
Switcheo Exchange made an official announcement in which it shows that the NEO/SDUSD pairing will be available from December 27th on the platform as the stablecoin makes its debut in the crypto markets.
In a press release, Switcheo said that Alchemint’s smart contract based SDUSD coin will debut on the Singapore crypto exchange and will be the first fiat-pegged pair with NEO. In that way, 1 SDUSD will be stabilized with $1 USD through the collateralization of NEO smart contracts.
“SDUSD will be open for deposits on 27 Dec, 11.30am SGT (UTC+8) and trading will commence on 27 Dec, 12.00pm SGT (UTC+8),” the exchange noted.
Switcheo is seen as the first decentralized exchange to use the NEO blockchain which allows traders to trade both Ethereum and NEO. Currently, it is looking to create a DEX network that will offer cross-chain swapping features in a variety of blockchain networks. The ultimate goal of Switcheo is to offer a trading experience that merges a world-class experience with trust and transparency within a decentralized platform.
Meanwhile, Alchemint plans to offer a transparent stablecoin issuance system in the future. So, if you are looking to back your NEO against the US Dollar, you can do it on the Switcheo cryptoexchange.
USDT-TRON Stablecoin Is Going To Be Listed On OKEx
OKEx Lists USDT-Tron As 4th Largest Bitcoin ExchangeStanding as fourth largest Bitcoin exchange by adjusted volume, OKEx has recently announced:
In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders. By then, OKEx will support three protocols of USDT, namely USDT-Omni, USDT-ERC20, and USDT-TRON. Please stay tuned for our further announcements.What's important is the fact that centralized exchanges are not the real beneficiary of USDT-Tron right now. However, the majority of the Tron tokens trade on decentralized exchanges which run on the Tron blockchain. TRX itself has some stablecoin markets including Binance. As soon as USDT-Tron is live, the liquidity of the Tron economy will reshape and every token will have a price in both TRX and fiat. It will be similar to ERC-20 assets and their price in fiat - in fact fiat and demand have their own way of dictating the actual value of the tokens.
The Real Benefit OF USDT-TRXUSDT-TRON is currently great for TRX tokens. Since Tether (USDT) is the oldest pegged stablecoin, it has some authority on the market. The real question right now, however, is who will be next to cross the blockchain barriers since most of the stablecoins are only available on Ethereum. Among the other blockchains that could use the liquidity boost are EOS, NEO, Cardano, Aelf and Tezos. Any of these could benefit from the ability to quickly trade into a stablecoin without having to go through a centralized exchange, which is the real benefit of the USDT-TRX move. To sum things up, Tron and EOS are not far behind Ethereum in terms of the developer ecosystem. In fact, their userbases outpace Ethereum in terms of growth. However, in terms of liquidity and financial markets, Ethereum is the most dominant smart contract platform. All in all, the move to create a Tether stablecoin on TRX its a major leap forward for Tron.
Bitcoin Is Close To $4,100 As Tokens Gain 20%
"In my opinion, blockchain and crypto-related investment opportunities will be one of the fastest growing sectors in the alternative asset management space in the next 10 years. This means that every alternative asset manager will have to create a strategy to help their LPs gain exposure to the nascent industry," Pompliano said.Aside from the greens recorded in the top 20 cryptocurrencies, the best performers on the day include the names of Ontology, Ravencoin, Tezos, Huobi Token, and KuCoin Shares - all recording gains from 12% to 25% on the day.
Analyst: 90% Of Smaller Crypto Projects Will Result In Complete Loss
“No matter how these small projects are financed (via an ICO, premine, fair launch, dev reward, self-funded etc.), they are essentially young startups in a completely unproven technological field. Such startups are known to have an extremely high failure rate of about 90%,” the analyst explained.The "Wolf of Qtrade.io" also said that only Bitcoin, Ethereum and Monero are the coins that have "traction" and ones that should make up core crypto exposure.
"There’s no denying that there’s a realistic chance that somewhere in the 10% of the projects that survive lies a gem that ends up providing a 10x, 100x, or even 1000x return on investment," he said.Overall, his thoughts are very much in line with the other traders in the crypto community which now recommend investing only in the cryptocurrencies one can afford to lose and building the portfolio around high-cap coins such as Bitcoin and Ethereum.
Mayor Of Chicago: Cryptocurrency Will Save Countries From Financial Crises
“The trend lines are affirmative for its future. I don’t know if that’s ten years, and I don’t know if that’s 20 years, but it’s affirmative. I don’t know what it is. I know it’s an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it’s not the top 100 things I would have to learn about.”Emmanuel also noted that the nation states are falling apart while the "city states are emerging." This is why Chicago and other major cities have their own wage laws, some of them even have their own income taxes and many other different regulations. In times when countries like Iran and Venezuela are facing financial embargoes, cryptocurrency can be a possible way to maintain global transactions, according to Emanuel.
"Nation states are falling apart, or receding. City states are emerging, so the political structures we all grew up under are changing. One day, somebody's going to figure out - whether that's Argentina, ten years from now, five years from now - how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you're going to find out that this moment has arrived," he confidently said.To sum things up, Emanuel said that he believes that "an alternative way of currency dealing with the debt markets is going to happen" at some point in the future.
The trend lines are affirmative for its future. I don't know if that's ten years, and I don't know if that's 20 years, but it's affirmative. I don't know what it is. I know it's an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it's not the top 100 things I would have to learn about," Emanuel concluded.
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