India's Largest Exchange To Delist USDC

WazirX, which is the largest crypto trading platform in India, has followed suit in Binance's footsteps and removed the USDC stablecoin from its listings.  USDC To Be Exchanged For BUSD India's leading crypto platform is mirroring the world's largest crypto exchange in removing the USD Coin from its listings.

Timeline of Usd-coin

WazirX, India's largest cryptocurrency exchange by transaction volume, said that it will no longer accept deposits of the stablecoins USDC, USDP, and TUSD and will convert users' existing balances to Binance's USD-backed stablecoin BUSD at a 1:1 ratio. WazirX will start auto-conversion on or before October 5 and may alter the list of stablecoins eligible

Indian cryptocurrency trading platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange

The decision to transition to greater BUSD support comes  after WazirX and Binance last month got into a public spat over the Indian firm's ownership. The post WazirX exchange to delist stablecoins USDC, USDP, and TUSD appeared first on The Block.

Often an overlooked part of the cryptocurrency market, stablecoins can be used to determine the current state of the market. The post Research: USDT, USDC exchange balance going in opposite directions appeared first on CryptoSlate.

In yet another jolt to USDC, the second largest stablecoin, yet another crypto exchange is set to delist it. Earlier this month, top exchange Binance announced its plans to discontinue support for USDC transactions.

Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from ​​$171.37 billion to today's $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July.

JPMorgan says Binance's decision to stop supporting USDC could make Tether even more important when it comes to trading.  The post JPMorgan: Binance's USDC move could increase importance of Tether in crypto trading appeared first on The Block.

The Binance Stablecoin (CRYPTO: BUSD) on Saturday surpassed the $20 billion market cap. In the overall crypto market, it stands at the sixth position and third among stablecoins by the market cap.

CEO Jeremy Allaire has addressed the speculations surrounding Binance's delisting of its USDC stablecoin, claiming it to be a good thing.  Speculations Around Binance's Decision When Binance announced that it was removing USDC from its spot trading pairs and other offerings, speculations arose about the exchange abandoning the stablecoin.

Binance's move to automatically convert USDC and two other stablecoins may lead to more USDC flowing into the exchange, according to the CEO of Circle, which issues the coin.  “Binance is trying to consolidate dollar liquidity w cash equivalent stables. That's good for liquidity and market depth,” said Circle CEO Jeremy Allaire on Twitter.