Coinbase Wallet has introduced a rewards program for its
USDC holders with a 4.7% APY. This move positions USDC in direct competition with Tether (USDT) as both seek to dominate the stablecoin market.
Sky, formerly Maker, has launched USDS stablecoin on Solana blockchain, adding to the list of stablecoin competitors. In another development, USDC swaps for Bitcoin, Ethereum, Solana, and UNI have been launched by
Nubank. Amidst these developments, Dogecoin has significantly appreciated in value, momentarily flipping USDC in market cap ranking. In relation to this,
Circle raised fees despite increasing competition in the stablecoin market.
Stripe has re-entered the crypto space, enabling USDC payments for US businesses. USDC has made significant strides in DeFi, positioning itself as a strong competitor against USDT. However, the growing influence of meme coins such as Dogecoin, can impact the future placement of USDC.
Circle is expanding the use of its USDC stablecoin on other blockchains including the Sui network. This growth and adoption are noteworthy as USDC recently crossed the $16 trillion in volume, surpassing USDT with a profound focus on compliance and business integration.
USDC Coin News Analytics from Wed, 21 Feb 2024 08:00:00 GMT to Wed, 20 Nov 2024 21:15:03 GMT -
Rating 7
- Innovation 9
- Information 8
- Rumor -2
