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Shiba Inu Developer Urges Hacker to Consider 20 ETH Bounty for Stolen Shibarium Tokens

The Shiba Inu developer Kaal Dhairya urged the Shibarium Bridge hacker, who stole $2.3 million in assets, to accept K9 Finance’s 20 ETH bounty for the frozen KNINE tokens. This CoinOtag

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Ethereum Stablecoins Hit $2.8 Trillion in One Month – Here`s Why Whales Are Buying

In October, stablecoin transaction volumes increased by 45% to $2.8 trillion, up from the record of $1.94 trillion in September. The surge comes as large-scale investors continue accumulating Ethereum-based stablecoins amid volatile market conditions. The market capitalization of Ethereum stablecoins has increased by a record 1.36% weekly, surpassing $165 billion. Tether`s USDT leads with 85.88 billion tokens circulating on Ethereum , experiencing a monthly growth rate of 8.12%. Circle`s USDC comes next, with 48.2 billion tokens in circulation, which increased by 5.79% during the same period. Stablecoin transfer volume on Ethereum, Source: X On-chain data show that the aggregate amount of stablecoin transactions on Ethereum has increased by 1,000% since May 2023. This expansion positions stablecoins as a significant force in digital payments infrastructure. Market Position and Annual Performance Stablecoins control around 60% of the broader market with a total circulation of more than $308 billion. USDT leads with a market capitalization of over $183.6 billion. The USDC is ranked second with an approximate of $75 billion, which is 41% of the stablecoin market. The annual transaction volume for stablecoins has surpassed $27 trillion, accounting for approximately 1% of daily global payment flows. Present growth trends suggest that stablecoin settlement volumes may surpass those of traditional finance networks within the next ten years. The momentum of its adoption is driven by rising demand for cross-border transfers, real-time settlement, and access to payments outside traditional banking hours. They are now utilized in remittances, decentralized finance protocols, trading operations, capital markets, corporate treasury management, and consumer payments. Infrastructure Competition Intensifies According to Gate Research, the development of infrastructures is now of utmost importance to major issuers compared to token expansion. Stablecoin providers focus on building foundational settlement networks rather than simply broadening token issuance. Tether has introduced Plasma products, aiming at retail and institutional payment systems. Circle has recently opened Arc, an infrastructure-focused platform of stablecoins. These actions indicate a strategic shift towards utility and settlement infrastructure. Research Associate at Presto Research, Min Jung, observed the sector`s momentum. The recent regulatory shifts, such as the passage of the GENIUS Act and the Circle`s IPO, have accelerated this trend. CoinOtag