TRM Labs Report: 99% of Stablecoin Activity in 2024 Is "Legitimate"
According to The Block, a report from crypto analytics firm TRM Labs states that, based on its latest estimates, 99% of stablecoin activity in 2024 is "legitimate." TRM also notes that stablecoins currently account for over 60% of all cryptocurrency trading volume, which is particularly noteworthy as it suggests the association between cryptocurrencies and criminals has at least been somewhat exaggerated.
One of the most significant features of stablecoins is their traceability: since stablecoins operate on public blockchains, when combined with advanced blockchain analytics, they are often more transparent than cash. In addition to traceability, stablecoin issuers also retain the ability to "freeze" or "destroy" illicit proceeds.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Investors reportedly offering Anthropic allocation shares at premiums of up to 5% ahead of its IPO
According to reports, the trading firm JonesTrading is marketing up to $500 million worth of stock shares on behalf of some investors, at a 3% to 5% premium over the IPO issue price. This indicates that investors are already transferring their anticipated IPO allotted shares before the IPO is officially issued.
Nvidia continues to plummet, losing $430 billion in market value over two days, with Microsoft temporarily reclaiming the world's second place.
On Tuesday, Nvidia closed down 5.5%, a decline significantly greater than other major tech stocks, making it a key factor dragging down the tech sector's performance. During intraday trading on Tuesday, Microsoft's market capitalization briefly surpassed Nvidia, making it the world's second largest publicly traded company by market value. However, after Anthropic released its office suite, Microsoft's losses widened, causing it to fall behind Nvidia once again.
Updated: CoreWeave Raises Revenue Forecasts, AI Demand Unfazed by Growing Doubts
TransUnion EVP Venkat Achanta reports sale of $2.36 million in common shares
Crypto prices
More
