This Indian Exchange Follows Binance In Stablecoin Priorities

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.

Timeline of Usd-coin

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.

The largest crypto exchange Binance announced that it will be converting stablecoin USD Coin (USDC), Pax Dollar, and True USD into its native stablecoin BUSD. This sparked a debate in the crypto community as many started speculating about the reasons behind this measure.

The stablecoin wars are heating up, and Circle and Coinbase's USDC could be in for a rough time. As the market shrinks, Binance, the world's largest cryptocurrency exchange, has fired a shot across the bow of the USDC stablecoin.

Binance has announced that it will be removing the USDC stablecoin from the platform's spot trading pairs list, along with two other stablecoins.  USDC, USDP, TUSD Delisted The other stablecoins being delisted along with USDC are USDP and TUSD.

Circle CEO Jeremy Allaire said Binance's decision to convert its users' USD Coin (USDC) holdings to its Binance USD (BUSD)stablecoin is good. The post Circle CEO says Binance decision to stop USDC support is good as it increases utility appeared first on CryptoSlate.

Binance, the world's largest crypto exchange, said on Monday it is introducing "BUSD Auto-Conversion," which will be used to convert any existing user balances and new deposits of USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into its own stablecoin.