Just In: Huge Boost To USDC Expansion After Binance Setback

After top crypto exchange Binance announced plans to soon end support for USDC transactions, the stablecoin made a big move. Circle, the company behind the second largest stablecoin, has now joined hands with investment platform Robinhood.

Timeline of Usd-coin

Robinhood, a renowned stock and cryptocurrency brokerage, listed the second-ranking stablecoin in terms of market capitalization-USDC earlier today as part of the digital assets currently listed on the brokerage.

Online brokerage platform Robinhood Markets Inc (NASDAQ: HOOD) announced on Tuesday the listing of the second-largest stablecoin by market capitalization, USD Coin (CRYPTO: USDC), on its platform. Robinhood also began listing Cardano's native cryptocurrency (CRYPTO: ADA) on Sept.

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.

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.