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Health, Wealth, and Happiness

June 12, 2024

“When prosperity comes, do not use all of it.”

- Confucius

Howdy, investors!

Stablecoins have become a leading sector in crypto because they are useful for trading, lending, and generating stable yields. Here are our top-rated stablecoins, updated for 2024.

Speaking of stablecoins, Tether uses some of its Q1 $4.5B in profits to invest in alternative financial infrastructure for emerging markets, AI, and biotech. We love diversification, so this makes USDT more interesting.

2024 has been memecoin mania: some users have seen stellar returns, but many have also been "rekt" by the volatility. Memecoins may be popular now, but that doesn't make them great investments.

If you've been using ZKsync, prepare your wallet for a healthy infusion of ZK tokens. The ZKsync Association is preparing to airdrop 3.7 billion ZK tokens to users of its L2 platform.

Read on!

Best Stablecoins, Rated and Reviewed for 2024

by Preetam Kaushik

The crypto company with the top stablecoin will own a massive slice of the global money pie.

That's a huge incentive to develop secure, trustworthy stablecoins and maintain their peg to the US dollar—all good things for investors.

For years, Tether and Circle have been duking it out for first place. However, Tether has recently jumped ahead, growing into the largest stablecoin by far (see the pie chart here).

Still, USDC is our top editorial pick based on trustworthiness, reliability, and stability.

In our latest rankings, we'll share our list of the best stablecoins of 2024 and how savvy investors can use stablecoins to help build wealth.

Get the full list of our top stablecoins for 2024 here >>

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New Risk Scorecard: Internet Computer Protocol (ICP)

The Internet Computer Protocol aims to

establish a decentralized internet, allowing software to operate like traditional web services, with blockchain advantages.

Over the past 52 weeks, ICP has increased by nearly 200% as investor interest has turned to Web3 infrastructure plays.

With that in mind, is ICP a revolutionary technology, or just hype?

Our analysts ran the ICP token through our industry-leading Blockchain Risk Scorecard to give our Premium members a glimpse into ICP's risk.

Premium members can download the Internet Computer Protocol Risk Scorecard here to learn what our analysts say about investing in ICP.

Not yet a Premium member? Sign up now to access our complete library of tools to make you a better crypto investor.

Must Read

Today's most important stories for crypto investors.

Tether to Invest More Than $1 Billion in Deals Over Next Year (Bloomberg)

The leading stablecoin's investment arm plans to plow $1 billion into alternative financial infrastructure for emerging markets, AI, and biotech. USDT has maintained its dollar peg long-term without major issues, and is now diversifying its holdings: a sign that Tether could be a good long-term investment.

Memecoin Mania (Coin Metrics)

Starting with Dogecoin in 2013, the memecoin sector has taken off this year, outperforming many other crypto categories over the last six months. Regardless, the high concentration of token ownership and associated risks highlight the dangers of investing in memecoins. Our recommendation: Avoid.

ZKsync to Airdrop 3.7 Billion Tokens to Early Users (The Defiant)

In a long-awaited move, the ZKsync Association will distribute 3.7 billion ZK tokens to community members starting June 24. About 17.5% of the total token supply will be awarded to early users and contributors. The L2 platform currently holds over $750 million in assets -- so if you've been using ZKsync, prepare your wallet for a healthy infusion of ZK tokens.

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Chart of the Day

Crypto Lending Activity Picks Up

After a flat period from mid-March through mid-May, lending interest has increased significantly. The total amount in lending protocols now tops $12 billion, up from $10 billion a month earlier.

Lending can also be particularly profitable, mainly when stablecoins are used as collateral. Current lending rates on USDT and USDC can be over 10% on some platforms.

In the chart above, Aave (AAVE) is the leading lending platform in fees collected, with nearly $100 million in fees over the past 90 days. Second-place contender Venus (XVS) has seen roughly one-third of that amount.

Lending will likely continue gaining more attention as some traders look to leverage their positions. This added demand will also increase fee revenues, increasing lending yields even as staking yields are trending lower.

Smart investors can invest in the leading lending protocols by buying and holding their tokens for the long term.

ICYMI