USDC Stablecoin Issuer Circle Dumps Tron Network! TRX fixed!
We know USDC is a stablecoin. It is a major stablecoin. However, this stablecoin will no longer be supported on the Tron blockchain. Recently such information has been given by the issuing circle. Recently it has been reported that the Circle has announced a phased transition as well as ending support for USDC on the TRON blockchain.
And also the authorities stated that they will no longer mint USDC into TRON It even said that customer migration of USDC to other blockchains will be supported by February 2025. But in all these cases when a retail user can convert them to this stablecoin TRON. As well as other non-Circle customers can transfer their USDC to TRON using the exchange.
However, the circle cited their risk management framework as part of the decision. The move is considered USDC trusted and the move is transparent and secure. But such moves are generally considered transparent and safe only when aligned with their efforts to ensure that — features that make it the leading regulated digital dollar on the Internet.
We know that stablecoins are very important among digital currencies that help us keep our balance at a certain amount so that we can avoid major losses as they are fixed in price. A stablecoin is a type of cryptocurrency that is pegged to a fiat currency. And these fiat currencies are generally considered to be priced in US dollars. They are also backed by a basket of underlying assets such as cash or bonds.
USDC is currently a very popular stablecoin. Especially since this type of stablecoin is the second largest stablecoin after Tether (USDT). This stablecoin currently has a supply of around $26 billion. Only $22 billion of that exists on the Ethereum blockchain. This stablecoin also has $1.4 billion in Solana and $530 million in Polygon. But an interesting and important point here is that the relatively small $300 million in Tron exists in USDC. Tron Native (TRX) tokens were flat yesterday. It changed hands yesterday at about 13 cents
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This is an important news for USDC coin holders because they will be required to move it out of TRON network but there is enough time to do this.
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