Circle removed $9 billion from USDC supply in the last three months

The stablecoin issuer has burned $9 billion worth of USD Coin (USDC) from its total supply in the last three months. The post Circle removed $9 billion from USDC supply in the last three months appeared first on The Block.

Timeline of Usd-coin

One of the expectations of the crypto community is adoption, a journey on which USDC has embarked. The more countries adopt crypto and its products, the better the industry thrives in value and utility.

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC's market capitalization has lost 12.05%.

Crypto payments company and USDC issuer Circle will launch a cross-chain transfer protocol to support USDC interoperability. The post Circle introduces bridging protocol focused on USDC payments appeared first on The Block.

Circle, the parent company of USDC, which is the second largest stablecoin in terms of market capitalization, reduced its stablecoins supply by 10%. Will the reduction in the supply have a negative impact on USDT's future.

Circle's USD Coin (USDC) market cap continues to tumble below $50 billion as whales lose confidence in the stablecoin and exchanges delist USDC amid censorship risks. After the Terra-LUNA crisis and liquidity crisis, some believed the USDC stablecoin will dethrone Tether (USDT).

As one of the world's fastest-growing crypto exchanges, Bybit has announced its new partnership with Genesis Volatility, a crypto options analytics platform, in order to accelerate the growth of Bybit's new USDC-settled options contracts, which currently include BTC, ETH, and SOL contracts.

FV Bank, a digital/digital asset bank, has integrated USDC, Circle's dollar-based stablecoin. The new service enables account holders the ability to instantly convert USDC into US dollars at the moment of deposit.

Retail trading giant Robinhood just added top stablecoin USD Coin (USDC) to its list of supported digital assets as the platform sees reduced trading activities due to the crypto winter. In a new announcement via Twitter, the company says that the second largest dollar-pegged stablecoin is now included in its trading roster, effective September 21st.

FV Bank and Circle announced an integration enabling USDC deposits into customers' bank accounts. The post FV Bank and Circle announce integration for USDC deposits appeared first on The Block.

Robinhood has announced that it has listed the market's second-largest stablecoin, USDC, on its trading platform.  Robinhood's First Stablecoin Earlier today, Robinhood announced that it had adopted the first stablecoin into its trading platform - USD Coin (USDC).