Lesser-Known Exchange Inflates Paxos Standard Daily Trading Volume to Record Highs
While it seems Paxos Standard (PAX) experienced a sudden surge in trading volumes, the stablecoin’s own issuer questions that very data.
If stablecoins are used for apparently illegal activity, should issuers step in to stop it? So far, they've been reluctant to do so, says our columnist.
"Looks like we're piggybacking on equities with some data possibly indicating virus peaking," says a trader of bitcoin's 5 percent jump Monday.
Witnesses will discuss stablecoins and tokenized dollars during Tuesday's Senate Banking hearing on the digitization of money.
Gold-backed crypto tokens continue to rise in price as sourcing gold itself during the coronavirus-induced downturn is reportedly getting more difficult.
Binance USD, a U.S. dollar-backed stablecoin, has surpassed $100 million in market capitalization, chipping away at a market still dominated by Tether's TUSD.
For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. In addition to its spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts on FTX.