Crypto Long & Short: Inside the 300-to-1 onchain gap between the dollar and euro
Ryan Connor of RockawayX writes that the dollar leads the euro about 3 to 1 across the offchain economy and more than 300 to 1 onchain. Euro-pegged stablecoins total €711 million, under 1% of supply. He traces the gap to path dependency and missing euro DeFi infrastructure, and argues MiCA-regulated issuance and euro vault rails are changing it.
Key Takeaways
- Ryan Connor of RockawayX writes that the dollar leads the euro about 3 to 1 across the offchain economy and more than 300 to 1 onchain.
- Euro-pegged stablecoins total €711 million, under 1% of supply.
- He traces the gap to path dependency and missing euro DeFi infrastructure, and argues MiCA-regulated issuance and euro vault rails are changing it.
Summary generated by IndiCrypto from CoinDesk. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Regulation
Brazil’s Tokenization Push Accelerates With $2 Billion Credit Plan
In July, Brazil’s Securities and Exchange Commission, the CVM, created a dedicated Tokenization Working Group to study the registration, custody, trading, and settlement of securities using distributed ledger technology. The group has also been tasked with…
Prediction Markets Abandon Cheap Oil as Brent Passes $100
Myriad's $120 side overtook $55 at the start of September, while Polymarket puts WTI reaching $100 this month at 59%.
Crypto industry groups escalate fight against Illinois, asking court to block controversial crypto tax
Crypto groups representing a slew of digital asset firms are escalating its legal fight in Illinois over its controversial crypto tax.