Ethereum supporters slammed Solana's vulnerability for lack of 'client diversity.'
The ongoing rivalry between Tron and Ethereum is escalating, particularly in Tether (USDT) circulation, as Tron inches closer to reclaiming the top spot. With Tether recently minting $1 billion USDT
The Tron network has drawn closer to regaining the lead from Ethereum in Tether circulation after another big mint by the US stablecoin issuer. On May 5, Tether minted another $1 billion Tether ( USDT ) on the Tron network, according to Arkham Intelligence. This brings the total USDT on Tron to $71.4 billion, according to the Tether Transparency report . In comparison, there is currently $72.8 billion USDT circulating on the Ethereum network, so just $1.4 billion more USDT on Tron will see it become the leading network for the world’s largest stablecoin issuer, as it has been previously over the last two years. Tron was ahead of Ethereum for USDT circulation between July 2022 and November 2024, but a large $18 billion mint on Ethereum pushed the network ahead again, according to CryptoQuant. The third-largest network for USDT is Solana, which has $1.9 billion circulating, and there are smaller amounts on Ton, Avalanche, Aptos, Near, Celo and Cosmos. USDT circulation on Ethereum and Tron. Source: CryptoQuant Tether’s total circulation is currently at a record high of $149.4 billion USDT, having increased by 8.6% since the beginning of this year. This gives the firm a commanding stablecoin market share of 61%, according to CoinGecko. Related: Tether AI platform to support Bitcoin and USDT payments, CEO says Its closest competitor, Circle, has a market share of 25% with almost $62 billion USDC ( USDC ) in circulation. Stablecoin issuance has surged over the past six months, and they currently represent 8% of the total crypto market capitalization. In a report in late April, the United States Treasury Department predicted that the stablecoin market could reach $2 trillion by 2028 if regulatory clarity is achieved. Stablecoin legislation nearing next vote It is widely believed that two key pieces of legislation need to be passed into law in the US to cement the position of stablecoins. The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act sets out clear definitions for “payment stablecoins” and reserve rules for stablecoin issuers. Lawmakers in the US Senate will move forward with a vote on the GENIUS stablecoin bill before May 26, according to reports. Meanwhile, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, which governs the approval and supervision of “federally qualified nonbank payment stablecoin issuers,” is also going through Congress. Tether is also planning to launch a US-based stablecoin later this year, with timing dependent on the passing of legislation. Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest
On May 6th, COINOTAG reported the launch of Binance’s latest initiative, the Launchpool project SXT, which commenced at 8:00 AM. Within hours, the project has successfully garnered a notable investment
Bitcoin's partial decoupling from equities suggests potential for future independence, driven by increasing institutional and sovereign adoption. The post Bitcoin outperforms stocks during market selloff, but fails to decouple fully: VanEck appeared first on Crypto Briefing .
VanEck Submits First BNB ETF in US, Binance Coin Price Surges $BNB #BNB
On May 6th, COINOTAG News reported a significant transaction in the crypto sphere. According to The Data Nerd, an analysis showed that the whale address 0x016 has recently deposited 1130
In recent developments within the cryptocurrency market, a significant transaction has attracted attention. On May 6th, COINOTAG reported that a prominent whale, who had amassed 19,992 ETH at an average
While crypto markets often move in fast, unpredictable waves, certain assets occasionally show clear signs of consolidation—when momentum stabilizes and pressure builds. That’s exactly what’s happening with Bitcoin , Ethereum , Solana , and the rising contender, MAGACOINFINANCE . As the heavyweights strengthen their base, its early-stage players like MAGACOINFINANCE offer something even more compelling: early positioning before wider market recognition kicks in. MAGACOINFINANCE Is Quietly Building Toward Its Breakout Moment The quiet accumulation phase is often the most important—and MAGACOINFINANCE is deep in that zone right now. Wallet growth is increasing steadily, community expansion remains organic, and every update aligns with disciplined execution rather than overhyped noise. The signs are clear: this project is focused on longevity, not short-term swings. It’s moving like many successful early plays have before—purposefully, structurally, and with staying power. Those entering now aren’t chasing—they’re positioning. The Pillars: Bitcoin, Ethereum, and Solana Are Strengthening Foundations Bitcoin (BTC) continues to serve as the leading store of value in the crypto space, with institutional backing and ETF integration reinforcing its role in long-term portfolios. Ethereum (ETH) remains the infrastructure backbone for decentralized applications, with recent upgrades driving new levels of scalability and security across its ecosystem. Solana (SOL) is holding strong with developer momentum, fast execution speeds, and renewed attention from builders migrating to low-cost, high-performance networks. These three continue to define the top layer—but early-stage projects like MAGACOINFINANCE represent where the outsized return potential still exists. Strengthening Forces: Optimism, Aptos, and Chainlink Optimism is expanding Ethereum’s utility by reducing cost and congestion across smart contract activity. Aptos appeals to developers and users looking for next-gen performance and an improved user experience across decentralized platforms. Chainlink dominates the oracle space, integrating real-world data into blockchain environments with ever-growing reach and reliability. Each of these projects is valuable—but MAGACOINFINANCE offers the rare combination of early momentum and undervalued market position that few others still provide. Final Word Is a $1.5 million path truly unfolding? The combination of consolidation among market giants and strategic early-stage movement often leads to some of the crypto market’s most remarkable outcomes. Bitcoin , Ethereum , and Solana are showing strength—but MAGACOINFINANCE.COM is the one creating fresh momentum today. Those watching now may be the ones leading tomorrow. To learn more about MAGACOINFINANCE, please visit: Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: What MAGACOIN FINANCE’s 35x Projection Means for Cardano and XRP Traders Watching Closely
The new “Digital Asset Market Structure Discussion Draft” introduced by House Republicans on May 5 could work to reduce the dominance of large crypto firms and promote more participation in the broader market, according to an executive from Paradigm. The discussion draft, led by the House agricultural and financial services committee chairs Glenn Thompson and French Hill, is an “incremental, albeit meaningful, rewrite” of the Financial Innovation and Technology for the 21st Century Act (FIT21), Paradigm’s vice president of regulatory affairs Justin Slaughter said in a May 5 X post. One-pager of the digital asset market structure discussion draft submitted by House Republicans on May 5. Source: US House Agriculture Committee One of the major changes from FIT21 is that the draft defines an affiliated person as anyone who owns more than 1% of a digital commodity issued by the project — down from 5% in the FIT21 bill — a move Slaughter said may curb the influence of big crypto firms and lead to more participation in the crypto market. “This is a portent of the entire bill. There are often criticisms of crypto being too dominated by a few large firms. This bill makes clear the regulatory regime proposed is going to push against that fact and strongly encourage more small-d ‘democratization’ of the space.” The draft also defines a “mature blockchain system” as one that, together with its related digital commodity, is not under the “common control” of any person or group. Source: Justin Slaughter The Securities and Exchange Commission would be the main authority regulating activity on crypto networks until they become sufficiently decentralized, Slaughter noted. The draft also clarified that decentralized finance trading protocols are those that enable users to engage in a financial transaction in a “self-directed manner.” Protocols that meet this criterion are exempt from registering as digital commodity brokers or dealers. The draft also referred to digital commodities as “investment contract assets” to distinguish their treatment from stocks and other traditional assets under the Howey test. According to Slaughter’s analysis, securities laws won’t be triggered unless the secondary sale of tokens also transfers ownership or profit in the underlying business. Crypto firms would also have a path to raise funds under the SEC’s oversight while also having a “clear process” to register their digital commodities with the Commodity Futures Trading Commission, the committee members said in a separate May 5 statement. Joint rulemaking, procedures, or guidelines related to crypto asset delisting must be established by the CFTC and SEC should a registered asset no longer comply with rules laid out by the regulators. A ‘clear opportunity’ to advance crypto innovation, rules once and for all Speaking about the need for a comprehensive crypto regulatory framework, the House committee members said crypto is a “clear opportunity” to advance innovation in the US — most notably through modernizing America’s financial infrastructure and reinforcing US dollar dominance. The Republicans criticized the previous Biden administration and the Gary Gensler-led SEC for adopting a regulation-by-enforcement strategy rather than creating clear rules for market participants. Related: VanEck files for BNB ETF, first in US Many crypto firms were stuck in “legal limbo” as a result of the unclear rules, which pushed some industry players overseas, where clearer rules exist, the House committee members said. “America needs to be the powerhouse for digital asset investment and innovation. For that to happen, we need a commonsense regulatory regime,” said Dusty Johnson, chairman of the subcommittee on commodity markets, digital assets and rural development. Slaughter added: “This is the bill that will, finally, provide a clear regulatory regime on crypto that many have been calling for.” Republicans already facing roadblocks over discussion draft House Financial Services Committee Ranking Member Maxine Waters plans to block a Republican-led event discussing digital assets on May 6, a Democratic staffer told Cointelegraph. The hearing, “American Innovation and the Future of Digital Assets,” is expected to discuss the new crypto markets draft discussion paper pitched by Thompson, Hill, and other committee members. However, according to the unnamed Democratic staffer, the current rules require all members of the House Financial Services Committee to agree on such hearings. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight