↑ USDC Coin: Rising Adoption, High Interest Rates, and a Shift Away from Tron

USDC Coin has been making significant waves both in the US and abroad with its high adoption rates and growth, being favoured on the Ethereum network and gaining popularity in Brazil. The stablecoin has seen a rise in deposits and transactions, increasing its weekly volume by 155% following MiCA implementation in 2024. It has also expanded trading options with new spot pairs on OKX and recent interest rates have surged to 14% APR. A recent forecast points to a bullish sentiment for the stablecoin's future. While it has overtaken Tether's USDT in transactions, compliance has been a key factor for its dominance. On the downside, Binance and Crypto firm Circle have stopped support for USDC on the Tron blockchain network. The latter also plans to cease minting on the said network. Potential shifts in the stablecoin market are expected with Ripple's upcoming US dollar stablecoin aiming to compete with USDC and Tether. Notably, Coinbase is moving customer and corporate USDC balances to Base and has teamed up with Stripe to boost global crypto adoption. Further, the former has seen the largest USDC inflow ever. It's worth noting that Circle has already launched USD Coin on Ethereum's zkSync and it is set to file for an IPO in the US. Despite a drop in circulation, wallets with USDC stablecoin grew by 59% in 2023.

USDC Coin News Analytics from Fri, 22 Sep 2023 09:19:24 GMT to Tue, 27 Aug 2024 16:57:41 GMT - Rating 6 - Innovation 6 - Information 8 - Rumor 2