Solana

USDC

Polygon

TRON

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/usdc-discontinues-support-on-tron-blockchain/" data-wpel-link="internal">USDC Discontinues Support on Tron Blockchain</a> 
The cryptocurrency market is being shaken by a significant move. According to Circle’s announcement, the second-largest stablecoin, USD Coin (USDC), will no longer be supported on the Tron Blockchain. An announcement made earlier today stated that Circle would phase out support for USDC on Tron through a gradual transition. 
<h2 style="text-align: justify" id="usdc-leaves-tron-network">USDC Leaves Tron Network</h2> 
In Circle’s official statement, it was mentioned, “We are phasing out support for USDC on the TRON Blockchain. Effective immediately, we will no longer mint USDC on TRON.” As part of this decision, customers were informed that transfers of USDC to other blockchains would be supported until February 2025, while individual users and other customers outside of Circle can move their USDC to TRON through exchanges. 
Circle explained this decision as part of its risk management framework, stating, “This action is consistent with our efforts to ensure that USDC remains a trusted, transparent, and secure digital dollar on the internet.” 
<h2 style="text-align: justify" id="stablecoins-and-tron">Stablecoins and TRON</h2> 
Stablecoins are a type of cryptocurrency typically pegged to a fiat currency and backed by a basket of underlying assets. USD Coin (USDC) is known as the second-largest stablecoin after Tether (<a href="https://coin-turk.com/tether-coin-nasil-alinir" data-wpel-link="internal">USDT</a>) with over $26 billion in token supply. However, the majority of this amount is found on the Ethereum blockchain. 
Other blockchains like Solana have $1.4 billion and <a href="https://en.coin-turk.com/polygon-matic-hits-significant-milestone-active-wallets-surge/" data-wpel-link="internal">Polygon</a> has $530 million in USDC. On Tron, there is a relatively smaller amount of 300 million USDC. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-317446 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/trx-coin-turk-com-.png" alt="" width="1564" height="836"> 
Following this development, the price of TRON’s token TRX was not negatively affected. The token reached a level of $0.14. Such changes between the stablecoin market and blockchains can be seen as a reflection of the constantly evolving dynamics of the cryptocurrency world. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/usdc-discontinues-support-on-tron-blockchain/" data-wpel-link="internal">USDC Discontinues Support on Tron Blockchain</a></h5>

USDC Discontinues Support on Tron Blockchain

목차

COINTURK NEWS

2024년 2월 21일에 게재된 다른 기사

XRP price forecast as mysterious whale bags $20 million XRP in minutes

50% Chance of Spot Ethereum ETF Approval: Good or Bad for Prices?

Bitcoin Price Prediction: VanEck’s Bitcoin ETF Volumes Surge 1,400% As Experts Say This BTC Cloud...

Bitcoin’s Key Resistance at $52,400: A Gateway to Gain

ChatGPT had a public meltdown but OpenAI says it’s fine now

ZeroLend Raises $3M in Seed Funding, Valued at $25M, Set to Revolutionize DeFi with ZERO Token

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!