USDC Achieves Strong Liquidity Milestones Amid Stablecoin Frenzy
#Circle CEO, Jeremy Allaire, shares his review of #USDC and its exceptional performance over the last month alone. #Stablecoins
USDC
Man Swaps $2M for $0.05 USDT Due to USDC Panic
One person used a DeFi platform incorrectly, causing him to lose almost $2 million in a panic trade. Here’s how he lost $2 million.
Justin Sun Supports Binance: Deposits 100M USD
Recently, Tron ecosystem creator Justin Sun tweeted that he had deposited $100 million in a bid to stabilize the struggling cryptocurrency exchange.
New Data Shows USDC To Surpass USDT as Top Stablecoin
Report from Arcane Research shows stablecoin USDC to be the top soon. USDC’s growth rate increased by 70%, while USDT is down by 28.7%. The CEO of Blockstream criticized the report, saying looking at market cap only is “highly misleading.” USDT (Tether) and USDC (USD Coin) are the two largest stablecoins right now. Both stablecoins have a combined share of over 80% of the total stablecoin supply in the market. Currently, Tether USDT is sitting at the top for it holds over 50% of the total stablecoin supply, followed by USDC which was nearly at 30%. However, a report from
USDC Issuer Circle to Launch Euro-Backed Stablecoin EUROC
Issuer of USDC, Circle, will launch a new stablecoin called Euro Coin (EUROC) EUROC will be officially launched on June 30th. Developers can now start integrating Euro coin’s smart contract today. Circle, the financial tech firm behind USDC, will be launching a new stablecoin called Euro Coin (EUROC). The new stablecoin was designed with a full-reverse model same as USDC to ensure the coin is redeemable 1:1 for euros. Even though traders have lost their trust to stablecoins due to the recent depegging of UST, the fintech still decided to launch the additional stablecoin backed by euro reserves. A euro-denominated
USDC Cements 4th Rank Amid MoneyGram-Stellar Sync
USDC is now the fourth-largest cryptocurrency by market capitalization. MoneyGram has partnered with Stellar to enable users to send USDC anywhere. MoneyGram CEO Alexander Holmes mentioned his desire to streamline crypto transfers in El Salvador. US dollar-based stablecoin USD Coin (USDC) has nabbed the fourth position among all cryptocurrencies from Binance Coin (BNB). This milestone occurred after global money transfer service MoneyGram partnered with Stellar Foundation. Specifically, the mentioned partnership will now allow MoneyGram to empower customers to send USDC and convert the stablecoin into fiat. Hence, this will enable full stablecoin access across all countries where MoneyGram is available.
