0 sats \ 0 replies \ @cryptocoin 6 Sep 2022 \ parent \ on: Binance remove USDC bitcoin
An article from CoinDesk on this development:
The same will happen with two smaller stablecoins: Pax Dollar (USDP) and TrueUSD (TUSD).
The action effectively removes USDC, which has a market cap of nearly $52 billion, as a tradable asset on one of the most prominent perches in crypto – removing momentum in the race to overtake Tether (USDT) as the largest stablecoin. It's a headache for Circle Internet Financial, USDC's issuer, as the company mulls an IPO.
With a market cap of $19.5 billion, BUSD is the third largest stablecoin. TUSD and USDP rank fifth and sixth with market caps of $1 billion and $945 million, respectively.
The stablecoin market is dominated by USDT's 44% market share.
Binance, Issuer of 3rd Biggest Stablecoin, to Stop Supporting Larger Rival USDC https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd [Archive]
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