fe1ce2ee aa9a 41e8 970a 69f7e913868e 880x495 2

📉 USDC Market Cap Slides By $10B Since Tornado Cash Bans

Hello Defiers! Here’s what we’re covering today:


Defiant Explainers
Trending in The Defiant

The open economy is taking over the old one. Subscribe to keep up with this revolution. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).


📉 USDC Market Cap Slides By $10B Since Tornado Cash Bans

Investor Interest in USDC Wanes as Competing Stablecoins Gain Market Share

By Tarang Khaitan

LOSING SHARE Centre Consortium’s USDC, crypto’s second-largest stablecoin by market capitalization, is steadily losing market share. The circulating supply of USDC has fallen by almost 20% from $53.6B on Aug. 8 to $43.2B on Oct. 27. Meanwhile, other leading stablecoins like Tether’s USDT and Binance’s BUSD expanded by $1.82B and $3.41B respectively.


Market Action

💦 FTX Sees Spike In Liquidations Amid Market Surge

Coinglass Data Shows $1.2B Of Liquidations in the Past 48 Hours

By Owen Fernau

LIQUIDATIONS FTX, one of crypto’s largest exchanges processing over $10B in daily trading volume, is potentially having a record week in terms of liquidations. The exchange has liquidated $1.21B of positions in the past two days, according to data from Coinglass. Of that, $677M was related to Bitcoin positions with another $470M related to Ether. 


Sponsored Post

$1.5 BILLION were stolen from cross-chain bridges in 2022.

It’s obvious that the crypto industry needs to create a more secure way to make cross-chain trades.

Project TXA will allow ANY EXCHANGE to do cross-chain trading WITHOUT bridging assets while still having decentralized settlement.

Those who provide their services to secure decentralized settlement will receive half of the fees that are typically reserved exclusively for exchanges.

You can be one of them.

TXA’s newtwork is comprised of Settlement Data Providers (SDPs) to listen to and propagate all trades happening on participant exchanges.

They maintain a register of each trade and and obligations between users.

Settlement is entirely P2P and neither the exchanges nor Project TXA touch the assets at any point.

Anyone can become a Settlement Data Provider operator and validate trading data.

They earn fees from each validated trade.

No shady tokeconomics involved.

Protect TXA has been building through two bear cycles and we aren’t going anywhere. We are very close to alpha and have considerable support from partners and the community alike.

Want to be one of the first few to change the way assets are traded and settled?

Exchange Stablecoins

👀 FTX Prepares Stablecoin For Launch: Report

FTX Follows Binance With Move to Release its Own Pegged Token

By Aleksandar Gilbert

LAUNCH An FTX stablecoin is in the works and may launch in the “not too distant future,” CEO Sam Bankman-Fried told European crypto publication The Big Whale in a recent interview.


Defiant Video

📺 Daily Defiant: MakerDAO Just Voted on Plan That Changes Everything

Defiant Podcast Video

📺 🎙Ali Yahya of a16z: “We’ve Entered The Golden Era Of Blockchain Applications”

DeFi Explainers

What Is Phantom?

A Step-by-Step Guide to the Digital Wallet for Solana

By Rahul Nambiampurath

WALLET Phantom is the main digital wallet for the Solana blockchain. An Ethereum rival, Solana offers faster transaction speeds and more affordable transfer fees. 



🔗 Meta’s metaverse losses top $9.4 billion for the year: The Block

Facebook owner Meta reported that its metaverse division Reality Labs posted a $3.7 billion loss in the third quarter of this year.

🔗 Eric Wall and Udi Wertheimer on Why Bitcoin Maximalism Is ‘Like a Shitcoin Community’: Unchained

Eric Wall, crypto blogger and investor, and Udi Wertheimer, a recovering Bitcoin maxi, discuss everything about Bitcoin Maximalism, whether BTC can survive, and whether Ethereum constitutes a threat for Bitcoin.

Trending in The Defiant

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

Free subscribers to the newsletter get:

  • Daily news briefings
  • Sunday Weekly recap
  • General chat on The Defiant’s Discord server

👑Prime defiers get:

  • Full transcript of exclusive podcast interviews
  • DeFi Alpha weekly newsletter on how to put your money to work in DeFi by yyctrader and DeFi Dad
  • Weekly live DeFi Alpha call with yyctrader
  • Inbox Dump edition of The Defiant newsletter every Saturday with all the PR that didn’t make it to our content channels
  • Exclusive community calls with the team
  • Subscriber-only chats on The Defiant Discord server
  • Full access to The Defiant’s content archive

Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button below ($15/mo, $150/yr).

You can start a prime membership for free right now with this link. You’ll get full access for 7 days. It’s 100% risk-free.



, ,