According to news on March 14, USDC and DAI have recently de-anchored from the U.S. dollar, triggering a frenzy of loan repayments last weekend, allowing debtors to save more than $100 million in loans in total.

Following the collapse of Silicon Valley Bank (SVB) on March 10, USDC fell to a low of $0.87 on March 11 amid fears that its reserves would be locked in SVB. MakerDAO’s stablecoin DAI was also briefly depegged, reaching as low as $0.87 on March 11. $0.88.

Against the backdrop of broader cryptocurrency market turmoil, stablecoin de-anchoring led to more than $2 billion in loan repayments on DeFi lending protocols Aave and Compound on March 11, according to a report from digital asset data provider Kaiko, More than half of this was done with USDC, and another $500 million in debt was also repaid in DAI on the same day. This trend is gradually weakening as USDC and DAI start to anchor back.

On March 12, total loan repayments in USDT, USDC, DAI, and other stablecoins were only about $500 million, and on March 13 it was about half that amount.

According to news on March 14, USDC and DAI have recently de-anchored from the U.S. dollar, triggering a frenzy of loan repayments last weekend, allowing debtors to save more than $100 million in loans in total.

Following the collapse of Silicon Valley Bank (SVB) on March 10, USDC fell to a low of $0.87 on March 11 amid fears that its reserves would be locked in SVB. MakerDAO’s stablecoin DAI was also briefly depegged, reaching as low as $0.87 on March 11. $0.88.

Against the backdrop of broader cryptocurrency market turmoil, stablecoin de-anchoring led to more than $2 billion in loan repayments on DeFi lending protocols Aave and Compound on March 11, according to a report from digital asset data provider Kaiko, More than half of this was done with USDC, and another $500 million in debt was also repaid in DAI on the same day. This trend is gradually weakening as USDC and DAI start to anchor back.

On March 12, total loan repayments in USDT, USDC, DAI, and other stablecoins were only about $500 million, and on March 13 it was about half that amount.

Overall, blockchain analytics firm Flipside Crypto estimates that USDC debtors saved $84 million in loan repayments during the stablecoin unpeg. And those who used DAI saved $20.8 million.

Shytoshi Kusama, the chief developer of SHIB, said that the Layer 2 blockchain solution Shibarium Early Public Beta (Early Public Beta) PUPPYNET has been launched.

According to the article, Shibarium is a Layer 2 blockchain that allows anyone to build DApps, integrate them into real-life businesses and provide support for projects. The network has low transaction costs, burns SHIB in the process, and adjusts as beta testing continues over the next few months.

The destruction of SHIB will depend on the transactions in the network, and the official will provide a SHIB destruction chart on the destruction portal. This is part of the Shibarium network testing. The article reminded that the current products on Shibarium are only for testing purposes, and “all tokens on PUPPYNET are not real.”

In addition, for potential validators, the official will release relevant documents next week so that they can set up test nodes. The article also released screenshots of the Shib the Metaverse booth at the SXSW Film Festival, and the MV team has set up the Early Alpha experience of WAGMI TEMPLE for media and community viewing.

Community user @IvanonTech asked Binance to delete all stablecoins and use ETH/BTC for cryptocurrency transactions. To this, Binance CEO CZ responded that Binance is a market that provides transactions for users.

If there is no transaction volume, the transaction pair will be deleted, but other methods will not be used to delete the transaction pair. For example, the transaction pair will not be deleted due to the decrease in the transaction volume. In fact, the transaction pair deletion is decided by the user.

The Aave community of the lending protocol launched the long-term executor voting proposal for the first phase of the rescue mission to restore the Tokens sent to the wrong address by community members. The range of users includes: users who send AAVE, LEND, USDT and UNI to the AAVE Token contract, users who send LEND to the LEND contract, users who send LEND to the Lend To Aave Migrator contract, users who send AAVE and stkAAVE to the stkAAVE contract.

The LEND sent to the designated contract will be returned with AAVE Token, which will be exchanged at the exchange rate of 1AAVE=100LEND. According to the proposal data, about 2.18 million US dollars of tokens will be restored, including LEND, AAVE, UNI, USDT, stkAAVE, etc., of which more than 29,188 AAVEs and 107 pledged AAVE Tokens are worth about 2.16 million US dollars. Additionally, the proposal only restores tokens worth more than $500.

CZ spoke in the AMA and said that the stable currency supported by legal currency will not exist for a long time, and the stable currency will continue to evolve and iterate.

In the long run, 10 to 20 years from now, fiat-backed stablecoins may dominate. It is expected that this year will be a year of crypto adjustment and recovery, and there is no expectation for a new high.

According to Lookonchain monitoring data, trader GCR withdrew 39.8 million USDT from Binance yesterday.

In March 2022, the trader had bet $10 million with DoKwon, the founder of Terra, on the price of LUNA one year later compared to the current day. He also began to bearish the market and short altcoins at the top of the market in November 2021. He reminded people Withdraw funds when FTX crashes.

GCR stated on its social platform about the withdrawal that this is not an attack on any individual trading platform, but a general guidance. People should learn to take custody of their crypto assets.

According to Shibburn, which tracks SHIB burns, the SHIB burn rate suddenly exploded by 7,900% on Friday, with 43 million tokens burnt in one day. At press time, over 410 trillion SHIB tokens have been permanently burned from the supply.

The Shiba Inu community began burning tokens in 2021, when Ethereum co-founder Vitalik burned 90% of his SHIB holdings and donated the rest to charity. Since then, SHIB has slowly withdrawn from supply through the burn mechanism.

A new cryptocurrency Voyager Digital plans to issue to pay bankrupt creditors is actually a security that should be regulated, a U.S. Securities and Exchange Commission attorney said in court on Friday.

The comments by William Uptegrove, who represents the U.S. Securities and Exchange Commission, reflect the views of the SEC staff, which could complicate the bankrupt cryptocurrency company’s proposal to repay creditors by issuing digital tokens as part of a plan that also includes the sale of Binance.US.

Uptegrove opposed the proposal and responded to a challenge to the SEC staff’s view by a judge overseeing Voyager’s bankruptcy case.

The committee itself has not taken a position, lawyers said. U.S. Bankruptcy Judge Michael Wiles holds a two-day hearing on the Binance.US sale and related payment plans.

The popularity of artificial intelligence-based platform ChatGPT has reignited the artificial intelligence (AI) hype, helping a significant portion of Fetch.ai (FET) holders stay profitable despite most of the cryptocurrency market losing money in recent days.

According to the latest information from Finbold, as many as 96% of FET holders are in profit at the current price (currency), while only 4% are at a loss.

99% of Fetch.ai token holders are considered long-term holders, holding AI tokens for more than a year, while only 1% hold between 1 and 12 months.