By Shikha Singh
Headline 5
Ethena Labs Launches USDtb, Backed by BlackRock’s BUIDL Fund.
Ethena Labs launched USDtb, a new stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), on December 16th. USDtb, developed in partnership with Securitize, operates like other fiat-backed stablecoins, with reserves in cash-equivalent assets to maintain a 1:1 value ratio. Notably, 90% of USDtb’s backing comes from BUIDL, making it the highest BUIDL-backed stablecoin.
The stablecoin offers an alternative to Ethena’s USDe, providing a distinct risk profile and potentially improving USDe’s resilience during market volatility by acting as a backup asset. USDtb has passed audits from leading security firms and is under consideration for inclusion in Spark’s $1 billion Tokenization Grand Prix.
sBTC Launches on Stacks Mainnet With Deposit-Only Functionality.
Bitcoin L2 Labs launched sBTC, a programmable 1:1 BTC-backed asset on the Stacks network, on December 17, 2024.
sBTC allows decentralized movement of Bitcoin, enabling users to access decentralized finance (DeFi) applications while maintaining Bitcoin’s security.
The launch follows the Nakamoto upgrade, which improved transaction speeds and Bitcoin finality.
Initially, sBTC will be in deposit-only mode, allowing users to mint sBTC by depositing Bitcoin, with a temporary cap of 1,000 BTC.
Withdrawals are expected in March 2025. Early participants will earn up to 5% annual Bitcoin rewards in sBTC.
sBTC’s release expands Bitcoin’s use beyond a store of value, unlocking its potential for decentralized applications.
USDT Transfer Volume on TRON Reaches All-Time High of $587 bn.
In November 2024, the TRON blockchain processed a record $587.2 billion in USDT transfers, marking an all-time high (ATH).
This represents significant growth from previous months, such as $424.4 billion in September and $489.3 billion in October.
TRON’s share of USDT transfers has steadily increased since 2019, with notable growth in recent years, reaching $462.6 billion in March 2024.
The network’s success is attributed to its low transaction fees, fast processing times, and cost-effective remittance services.
This growth has positively impacted TRON’s native token, TRX, which has surged over 160% in the past year. At the time of writing, TRX was trading at $0.2912.
AAVE Price Surges, Targets ATH As Active Addresses Rise.
AAVE has experienced a significant 420% rally since its April lows, pushing its market cap to over $5.6 billion.
The token’s rise accelerated after Donald Trump’s World Liberty Financial (WLFI) selected AAVE as a service provider and invested $2.28 million in 6,137 tokens.
AAVE’s ecosystem has also seen growth, with its total value locked (TVL) reaching a record $23.2 billion. Additionally, the number of active addresses and large transactions has increased, signaling rising investor interest.
Semler Scientific Stock Options Begin Trading After Bitcoin-Fueled Price Surge.
Semler Scientific (SMLR), a small-cap medical device company, recently introduced options trading, building on its adoption of a Bitcoin treasury strategy earlier this year.
This move follows six months of steady growth, driven by its Bitcoin investments and ongoing capital raises.
Semler’s stock has surged nearly threefold, reaching over $74 per share after disclosing Bitcoin purchases in May.
The company has filed for a $150 million stock offering to fund further Bitcoin acquisitions, having already invested $168.6 million in Bitcoin.
Semler may also explore strategies like MicroStrategy’s use of convertible notes to raise capital without diluting shares.
The introduction of options trading aims to provide investors with hedging tools and boost the company’s appeal.
WazirX (WRX) Crashes 50% On Binance Delisting And Fresh Probe.
WazirX (WRX) has encountered significant setbacks today, with its price crashing over 50% following two major developments.
First, Binance announced it would delist WRX along with AKRO and BLZ tokens, leading to a 52.65% drop in WRX’s price to $0.1132.
The token’s trading volume also decreased by 19%. Second, the Delhi High Court ordered a fresh investigation into the exchange’s hack, rejecting a previous police report that cleared the exchange.
The hack, one of the largest crypto scams of the year, resulted in the loss of around $230 million. The court’s decision and the Binance delisting have added to WazirX’s ongoing challenges.
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