Stablecoins Experience Multi-Billion-Dollar Market Expansion in Three Weeks
Over the past few weeks, the market value of leading stablecoins has seen a significant increase. The economy of these fiat-pegged tokens has grown from $123.66 billion to the current $129.14 billion. This substantial growth of nearly $6 billion comes after the stablecoin industry lost tens of billions in the previous year. Notably, tokens such as BUSD, USDP, and USDC have experienced considerable redemptions in the last 12 months.
Recent data shows that from November 2 to November 24, 2023, spanning 22 days, the stablecoin market has expanded by $5.48 billion. In the past 24 hours, fiat-pegged cryptocurrencies have achieved a trading volume of $50.74 billion, compared to the global total trading volume of $88.65 billion.
The metrics indicate that stablecoin swaps make up 57.23% of the overall trading volume worldwide. Tether (USDT) leads with a market value of $88.59 billion, accounting for 68.59% of the total $129.14 billion market capitalization and 5.93% of the entire $1.4 trillion crypto economy.
Market Cap Growth of Leading Stablecoins
In the last 22 days, USDT's market cap has increased by 4.24%. Usd coin (USDC) has also experienced modest growth since November 2, with its market cap rising 0.81% from $24.5 billion to the current $24.7 billion.
DAI's market value has risen by 43.2%, while trueusd's (TUSD) supply has decreased by 5.38% since November 2. BUSD has been on a decline throughout the year following Paxos's decision to stop minting BUSD.
Twenty-two days ago, BUSD's market cap was at $1.95 billion, which has now fallen to $1.74 billion, a 10.76% drop. The newcomer first digital usd (FDUSD) has seen its market value increase from $590 million to $733 million, marking a 24.23% rise.
Tron's USDD fell slightly from $725 million, down by 0.82% to the current $719 million. Frax Dollar (FRAX) also saw a slight decrease of 0.44%, going from $671 million to $668 million in the same period.
Paxos, which supports the issuance of Paypal's PYUSD, observed a 1.10% reduction in the supply of pax dollar (USDP) from $453 million to $448 million. The tenth-largest stablecoin by market value, liquity usd (LUSD), experienced a drop in its supply from $220 million to $205 million. The market capitalizations of alchemix usd (ALUSD) and paypal usd (PYUSD) remained relatively unchanged.
What are your thoughts on the growth of the stablecoin market in the past three weeks? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
Are you able to keep precious metals in your IRA?
The answer to this question depends on whether the IRA owner wants to diversify his holdings into gold and silver or keep them for safekeeping.
If he does want to diversify, then there are two options available to him. He could purchase physical bars of gold or silver from a dealer and then sell these items to him at the end. But, what if he doesn’t want to sell his precious metal investments? In this case, he should hold onto the investments as they are perfect for storing inside an IRA account.
How much do gold IRA fees cost?
An average annual fee for an individual retirement plan (IRA) is $1,000. There are many types and types of IRAs. These include traditional, Roth or SEP-IRAs as well as SIMPLE IRAs. Each type has its own set of rules and requirements. If the earnings are not tax-deferred you could be subject to taxes. Also, consider how long the money will be kept. If you have a long-term goal of holding on to your money, you’ll be able to save more money if you open a Traditional IRA.
Traditional IRAs allow you to contribute up $5,500 annually ($6,500 if 50+). A Roth IRA allows for unlimited annual contributions. The difference between them is simple: With a traditional IRA, you can withdraw the money after you retire without paying taxes. You’ll owe tax on any Roth IRA withdrawals.
Is it a good idea to open a Precious Metal IRA
It all depends on your investment goals and risk tolerance.
If you plan to use the money for retirement, you should open an account now.
Because precious metals are highly likely to appreciate over time, You can also diversify your portfolio with them.
The prices of silver and gold tend to be linked. This makes them an excellent choice for investors in both assets.
You shouldn’t invest precious metal IRAs if you don’t plan on retiring or aren’t willing to take risks.
Which is better: sterling silver or 14k-gold?
Gold and silver are strong metals, but sterling silver is much less expensive because it contains 92% pure silver rather than just 24%.
Sterling silver is also known as fine silver because it is made from a mixture of silver and other metals such as copper and zinc.
Gold is usually considered to be extremely strong. It takes great pressure to break it apart. If you were to drop an object on top of a piece of gold, it would shatter into thousands of pieces instead of breaking into two halves.
Silver isn’t nearly as strong as either gold or silver. A sheet of silver would likely bend and fold if you dropped an item on it.
Silver is often used to make jewelry and coins. The price of silver can fluctuate according to supply and demande.
Are gold- and silver-IRAs a good idea.
If you are looking for an easy way to invest in both gold and silver at once, then this could be an excellent option for you. There are other options as well. Please feel free to reach out to us with any questions. We’re always happy to help!
How does a gold IRA generate interest?
It depends on how much money you put into it if you have $100,000, then yes. If you have less than $100,000, then no.
The amount you invest in an IRA affects its ability to earn interest.
If you have more than $100,000 in retirement savings each year, you might consider opening a regular brokerage accounts.
You will likely earn more interest there, but you’ll also be exposed to riskier investments. If the stock market crashes you don’t wish to lose your entire investment.
An IRA may be better for you if your annual income is less than $100,000. You can do this until the market grows again.
Statistics
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
- Silver must be 99.9% pure • (forbes.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item’s value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
External Links
en.wikipedia.org
kitco.com
investopedia.com
forbes.com
- Gold IRA, Add Some Sparkle to Your Retirement Nest egg
- Understanding China’s Evergrande Crisis – Forbes Advisor
How To
How to Open a Precious Metal IRA
Precious metals are a highly sought-after investment vehicle. Precious metals are a popular investment option because they provide investors with higher returns than traditional bonds and stocks. But, it is important to do your research and plan carefully before investing in precious metals. Here are the basics to help you open your precious metal IRA account.
There are two main types in precious metal accounts. These are physical precious metals and paper gold or silver certificates (GSCs). Each type comes with its own set of advantages and disadvantages. GSCs can be traded and access physical precious metals accounts, which offer diversification benefits. You can read more about them below.
Physical precious Metals accounts consist of bullion, bullion, and bars. Although this option can provide diversification benefits, there are some drawbacks. For instance, the costs associated with buying, storing, and selling precious physical metals are quite expensive. Due to their size, it can be difficult for them to be transported from one place to another.
However, silver and gold certificates made of paper are quite affordable. They are also easily available and can be traded online. This makes them ideal for people who don’t want to invest in precious physical metals. However, they aren’t as diversified as their physical counterparts. Because they are supported by government agencies such the U.S. Mint the value of these assets may decrease if inflation rates increase.
Choose the best account for you financial situation when opening a precious metal IRA. Consider the following:
- Your tolerance level
- Your preferred asset allocation strategy
- What time do you have available to invest?
- Whether or not you plan on using the funds for short-term trading purposes
- What kind of tax treatment you’d prefer
- Which precious metals would you prefer to invest in
- How liquid do your portfolio need to be
- Your retirement age
- Where you will store precious metals
- Your income level
- Your current savings rate
- Your future goals
- Your net worth
- Special circumstances that might affect your decision
- Your overall financial position
- Your preference between physical and paper assets
- Your willingness to take risks
- Your ability and willingness to accept losses
- Your budget constraints
- Your desire to be financially independent
- Your investment experience
- Your familiarity with precious metals
- Your knowledge about precious metals
- Your confidence in economy
- Your personal preferences
Once you have decided which type of precious-metal IRA is best for you, it’s time to open an account at a reputable dealer. These companies can be found through word of mouth, referrals and online research.
After opening your precious metal IRA you will need to decide how big you want it to be. It’s important to note that each precious metal IRA account carries different minimum initial deposit amounts. Some require only $100, while others will allow you to invest up to $50,000.
As you can see, your precious metal IRA IRA investment amount is completely up to the individual. A larger initial deposit is better if you are looking to build wealth over a longer period of time. A lower initial deposit may be better if you plan to invest smaller amounts of money each month.
As far as the actual precious metals used in your IRA go, you can purchase any number of different types of investments. These are the most commonly used:
- Bullion bars. Rounds, and gold coins.
- Silver – Rounds & coins
- Platinum – Coins
- Palladium Round and Bar Forms
- Mercury – Round or bar forms
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By: Jamie Redman
Title: Stablecoin Market Rebounds — $5.48 Billion Growth in 22 Days
Sourced From: news.bitcoin.com/stablecoin-market-rebounds-5-48-billion-growth-in-22-days/
Published Date: Sat, 25 Nov 2023 17:30:23 +0000
