Stablecoin Sector Swells by $1.7 Billion in February; USDC and FDUSD Lead Supply Growth

Statistics reveal that since the onset of February 2024, the stablecoin sector has experienced a significant expansion, with an increase of $1.7 billion in its economy. In the last 30 days, both usd coin and first digital usd witnessed their supplies jump by 9.6% and 40.3%, respectively.

Timeline of First-digital-usd, Usd-coin

As 2024 swings into gear and crypto volumes ramp up, Binance Futures has decided to throw its traders a bone in the form of $170,000 USDC in rewards. The generous promotional campaign is designed to raise awareness of its new USDC-margined perps.

Circle's USDC stablecoin spiked down to as low as $0.74 on three occasions today following a marketwide sell-off spurred by a report casting doubt over whether a spot bitcoin ETF will be approved this month.

Hong Kong recently proposed stringent regulations for stablecoins, signaling its ambitions to become a virtual asset hub. However, the recent development poses potential challenges for popular stablecoins in the market.

USDC stablecoin issuer Circle, based out of the USA, has been facing regulatory scrutiny in its home base, pushing it to look outside and develop partnerships with entities such as Fuze Finance in the UAE,to grow its USDC stablecoin market share in MENA region.

S&P Global Ratings, a leader in providing credit ratings, announced a crucial series of stability assessments for various stablecoins on Dec. 12, rating each asset's stability strength on a five-point scale.

Stablecoins like USDC have become a cornerstone in the cryptocurrency ecosystem, offering unique stability and reliability. This article provides an in-depth exploration of the USDC Coin, offering you a detailed understanding of its functions, market dynamics, and the organization behind it, particularly Circle USDC.

Circle and Nubank (NYSE:NU), which claims to be one of the world's largest digital financial platforms serving 90 million customers across Brazil, Mexico, and Colombia, announced a partnership to extend USDC access to Brazilian Nubank customers.

Tether seems to be emerging as king in the stablecoin race, largely influenced by geography and regulations. As the United States puts further pressure on crypto companies, the rest of the world has decided which stablecoin it wants to use for dollar transactions.

Additionally, Binance is removing one-hour interest fees for various pairs, including BTC, DOGE, ETH, GALA, GMT, LINK, MATIC, ORDI, SEI, SOL, TIA, and XRP. Binance Takes Bold Move: Zero Trading Fees on Six FDUSD Pairs In a significant move, Binance, a prominent global cryptocurrency exchange, has decided to eliminate trading fees entirely on six highly sought-after FDUSD pairs.

Recent data indicates that the market capitalization of the newly introduced stablecoin, first digital usd (FDUSD), is approaching the $1 billion threshold. This growth, a 253% increase in supply, has been recorded since August 4, 2023. Currently, the circulation of FDUSD tokens stands at 921 million.