The issuer of USDC is constantly expanding its presence in the cryptocurrency market; as of writing, it was 4th most traded among all enlisted cryptocurrencies.
Jeremy Allaire, the CEO of Circle, reposted a X post that notes, USDC (USD Coin) is set to be launched on the Layer-1 of Sei Network. The move is fueled by the global surging adoption of cryptocurrencies, primarily stablecoins.
BREAKING @jerallaire, Co-Founder, CEO & Chairman, Circle announces native $USDC launching soon on @SuiNetwork!! pic.twitter.com/oEZBIYFSdr
— Stravia.sui 111.sui (@vyz_cm) September 17, 2024
With this integration, USDC will become natively supported on the Sui blockchain, leveraging the Cross-Chain Transfer Protocol (CCTP). This permissionless, on-chain utility allows seamless USDC transfers between blockchain networks via native burning and minting.
Obeying this integration, USD will be available on 16 blockchains; as per finance specialists, the Circle ICO application might get clearance from the U.S Securities and Exchange Commission soon.
Related News
On September 16, 2024, Todayq wrote that Circle is prepared to resettle its headquarters in New York City. The move to relocate the headquarters seems to be influenced by the ongoing procedure of the ICO filed with the U.S SEC in January 2024.
As of writing, USD Coin was trading at $1.00; per data available on CoinMarketCap, its highest record trading price was $2.35, as registered on November 16, 2021.
The all-time low of USDC was $0.8774, as recorded on March 11, 2023. USDC/USDT is the hottest intraday traded pair, followed by BTC/USDC, USDC/AERO, and DAI/USDC.
Market News Updates
On September 17, 2024, Todayq wrote that MicroStrategy (MSTR) announced its plan to acquire more Bitcoin with a plan to offer $700M in convertible senior notes, a private offering that targets qualified institutional buyers under Rule 144A of the Securities Act of 1933.
Hester Peirce and Mark Uyeda, two commissioners at the U.S SEC, have criticized the commission’s decision over the Flyfish NFT. However, the NFT issuer has agreed to pay $750,000 in fines.
Earlier this month, the largest NFT marketplace OpenSea received a wells notice from the U.S SEC. over the charges that NFTs on its platform are unregistered securities.
The entire crypto commodity is seeking clearance over what security is and what is not in cryptos.
Market Price Updates
When writing the fear and greed metre powered by CoinMarketCap was at 34 reflecting a fear sentiment in the broader market. At the same time, the cryptocurrency market capitalization was $2.05 trillion, a decline of 0.25%.
The weekly gainers listed is ruled by Nerous Network (CKB) as its price surged 80.26% reaching $0.01562, followed by SUI with a growth of 24.00% at $1.14. Helium, Notcoin, and Dogwifhat have been among the major losers in the past 7 days.
Until publishing, Bitcoin was trading at $58,779 with a decline of 0.37% in prices however its trading volume grew over 7.50% intraday. In the past few quarters, BTC’s market dominance continued to grow reaching 57.52%.
The recent whale activities in Ethereum-held addresses have troubled the prices of ETH when drafting was trading at $2,309 with a decline of 0.81%. In terms of intraday trading volume Tether (USDT) remains at the top of the list with an average trading volume of $45,690,410,364.
