Stablecoins hit the market after Bitcoin and other cryptocurrencies, but they are now valued at $150 billion and projected to grow by 2024. Recent reports reveal that Ripple plans to join the stablecoin market with its own stablecoin tied to the U.S. dollar, supported by equal assets.

The company promises that the stablecoin reserves will be transparent through monthly reports. However, the auditing firm for this process is yet to be determined. Ripple aims to challenge Tether in the international payment industry, starting with a launch in the U.S. market.

The global stablecoin market has a current intraday trading volume of $92,753,392,520 and a market capitalization of $153,866,732,043. Tether (USDT) leads the pack with a market cap of $106.6 billion. The market saw a 5.75% increase in trading volume in the past 24 hours, with PayPal also introducing its stablecoin this year.

Other Recent Developments

GrayScale’s ETF experienced significant outflows, with ARK Invest (ARKB) outperforming GBTC ETF lately. On April 2, 2024, ARKB ETF saw an $88 million outflow, while GBTC ETF only lost $82 million. GSR Markets' subsidiary secured a significant payment institution license from MAS in Singapore.

The global cryptocurrency market cap stands at $2.48 trillion, with Bitcoin dropping 4.29% intraday to trade at $66,726. Pendle (PENDLE) gained 19.49%, leading the intraday gainers list, while Core (CORE) is the biggest loser in the past 24 hours. Core also leads the weekly gainers list, increasing by 119.42%.

Please note that the information presented in this article is for informational purposes only and should not be considered financial or investment advice.