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Circle Issues and Redeems Billions in USDC: A 300M Net Increase in CirculationIn the final days of October, Circle issued 2.4 billion USDC and redeemed 2 billion USDC, resulting in a net increase of 300 million USDC in circulation. Here’s an overview of the current status and implications: 1. Current USDC Circulation and Reserves Total Circulation: USDC’s total circulating supply now stands at 34.7 billion. Total Reserves: Circle maintains approximately 34.9 billion dollars in reserves, ensuring the stablecoin's backing. Reserve Breakdown: Cash: Around 4.3 billion dollars are held in cash. Circle Reserve Fund: Approximately 30.6 billion dollars are managed within this fund, adding to the security and stability of USDC. 2. Why This Matters Increased Circulation: The net addition of 300 million USDC indicates growing demand for stablecoins in the crypto market. Strong Backing: Circle’s robust reserves, primarily held in the Circle Reserve Fund, highlight its commitment to ensuring that each USDC is fully backed by reliable assets. Market Confidence: With transparent issuance and redemption data, Circle strengthens trust in USDC as a stable and secure digital dollar alternative. 3. What This Means for USDC Users Enhanced Stability: USDC remains one of the most trusted stablecoins, thanks to Circle’s transparent reserve strategy. Increased Adoption: As demand for USDC grows, more users may find it a reliable option for digital transactions, DeFi, and cross-border payments. Future Growth: Circle’s continuous adjustments in circulation show its responsive approach to market demand, which could further boost USDC’s role in the crypto ecosystem Conclusion Circle’s recent issuance and redemption activities reinforce USDC’s stability and growing popularity in the market. With solid reserves and transparent operations, USDC remains a strong choice for stablecoin users in the evolving digital finance landscape. #CryptoAMA #USDCTreasury $USDC {spot}(USDCUSDT)

Circle Issues and Redeems Billions in USDC: A 300M Net Increase in Circulation

In the final days of October, Circle issued 2.4 billion USDC and redeemed 2 billion USDC, resulting in a net increase of 300 million USDC in circulation. Here’s an overview of the current status and implications:

1. Current USDC Circulation and Reserves

Total Circulation: USDC’s total circulating supply now stands at 34.7 billion.

Total Reserves: Circle maintains approximately 34.9 billion dollars in reserves, ensuring the stablecoin's backing.

Reserve Breakdown:

Cash: Around 4.3 billion dollars are held in cash.

Circle Reserve Fund: Approximately 30.6 billion dollars are managed within this fund, adding to the security and stability of USDC.

2. Why This Matters

Increased Circulation: The net addition of 300 million USDC indicates growing demand for stablecoins in the crypto market.

Strong Backing: Circle’s robust reserves, primarily held in the Circle Reserve Fund, highlight its commitment to ensuring that each USDC is fully backed by reliable assets.

Market Confidence: With transparent issuance and redemption data, Circle strengthens trust in USDC as a stable and secure digital dollar alternative.

3. What This Means for USDC Users

Enhanced Stability: USDC remains one of the most trusted stablecoins, thanks to Circle’s transparent reserve strategy.

Increased Adoption: As demand for USDC grows, more users may find it a reliable option for digital transactions, DeFi, and cross-border payments.

Future Growth: Circle’s continuous adjustments in circulation show its responsive approach to market demand, which could further boost USDC’s role in the crypto ecosystem

Conclusion
Circle’s recent issuance and redemption activities reinforce USDC’s stability and growing popularity in the market. With solid reserves and transparent operations, USDC remains a strong choice for stablecoin users in the evolving digital finance landscape.
#CryptoAMA #USDCTreasury
$USDC
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Approximately 9 hours ago, during a period of market downturn, a substantial amount of 250,000,000 $USDC (valued at $250,650,208 USD) was minted at the #USDCTreasury on the #Solana blockchain. Transaction Hash: 3EsssmGu3X276moZBmmL1FDPMJP6LYaFtWbp9WUSDNRZ1NbztJfmDJeHHjzpL4Cv9a27hGzMQcCQvkUhQsx9xEbF
Approximately 9 hours ago, during a period of market downturn, a substantial amount of 250,000,000 $USDC (valued at $250,650,208 USD) was minted at the #USDCTreasury on the #Solana blockchain.

Transaction Hash: 3EsssmGu3X276moZBmmL1FDPMJP6LYaFtWbp9WUSDNRZ1NbztJfmDJeHHjzpL4Cv9a27hGzMQcCQvkUhQsx9xEbF
#MyFirstFeedPost Hello, Binance Square! OPEN CRYPTO BOX LIMITED CRYPTO BOX LEFT Red Packet USDT Code :- BPORQZADME Red Packets BNB Code :- BPONBHVJMV Red Packets SOL Code :- BP9DALCVF4 Red Packets bTTc Code :- BPW38TZ4S7 Red packet USDC Code :- BPGOLVYU64 Red Packet USTC Code :- BPM880AZBC Red packet VET Code :- BP0X5DNPSN Red Packet EXP Code :- BPHPY429CG Red Packet XEC Code :- BPI0NP8OFU Red Packet ACH Code :- BPITGGEBJJ Red Packet COS Code :- BPTY4B3FPC #BinanceSquareAnalysis #cryptocurreny #USDCTreasury #BNB🔥 #Shibu$BNB $BTC $SHIB
#MyFirstFeedPost Hello, Binance Square!

OPEN CRYPTO BOX

LIMITED CRYPTO BOX LEFT

Red Packet USDT Code :- BPORQZADME

Red Packets BNB Code :- BPONBHVJMV

Red Packets SOL Code :- BP9DALCVF4

Red Packets bTTc Code :- BPW38TZ4S7

Red packet USDC Code :- BPGOLVYU64

Red Packet USTC Code :- BPM880AZBC

Red packet VET Code :- BP0X5DNPSN

Red Packet EXP Code :- BPHPY429CG

Red Packet XEC Code :- BPI0NP8OFU

Red Packet ACH Code :- BPITGGEBJJ

Red Packet COS Code :- BPTY4B3FPC

#BinanceSquareAnalysis
#cryptocurreny
#USDCTreasury
#BNB🔥
#Shibu$BNB $BTC $SHIB
💰 DOUBLE WHAMMY: 50M #USDC MINTED, THEN SWIFTLY TRANSFERRED! 🔄💼 USDC Treasury Creates 50M USDC ($50,005,000) in a Flash! Followed by a Transfer to Wallet.. Approximately 15 hours ago, a noteworthy financial transaction occurred involving the $USDC cryptocurrency. Specifically, an amount of 50,000,000 USDC (equivalent to 50,005,000 USD) was minted at the #USDCTreasury , as evidenced by the transaction hash: 👇 0x7467543003ef8c399753165de410de0f7839ae79e3e3fdfa0f85897fea264ff9. Interestingly, within a few minutes following the minting, the whole sum of 50,000,000 USDC (50,049,999 USD) was transferred from the USDC Treasury to the wallet address 0x33566c9D8BE6Cf0B23795E0d380E112Be9d75836. The corresponding transaction hash for this transfer is: 👇 0x88333fe92531708b9310015a3aa410d83fa1755f8157289469efb7f50f90512c.
💰 DOUBLE WHAMMY: 50M #USDC MINTED, THEN SWIFTLY TRANSFERRED! 🔄💼 USDC Treasury Creates 50M USDC ($50,005,000) in a Flash! Followed by a Transfer to Wallet..

Approximately 15 hours ago, a noteworthy financial transaction occurred involving the $USDC cryptocurrency.

Specifically, an amount of 50,000,000 USDC (equivalent to 50,005,000 USD) was minted at the #USDCTreasury ,
as evidenced by the transaction hash: 👇
0x7467543003ef8c399753165de410de0f7839ae79e3e3fdfa0f85897fea264ff9.

Interestingly, within a few minutes following the minting, the whole sum of 50,000,000 USDC (50,049,999 USD) was transferred from the USDC Treasury to the wallet address 0x33566c9D8BE6Cf0B23795E0d380E112Be9d75836.

The corresponding transaction hash for this transfer is: 👇
0x88333fe92531708b9310015a3aa410d83fa1755f8157289469efb7f50f90512c.
What is USDCIntroduction:In the realm of cryptocurrencies, stability is a sought-after quality, and USD Coin (USDC) has emerged as a prominent stablecoin designed to offer just that. This article aims to shed light on USDC, exploring its purpose, features, and the role it plays within the dynamic world of digital assets.Understanding USD Coin (USDC):USD Coin (USDC) is a stablecoin pegged to the value of the US dollar on a 1:1 basis. It operates as an ERC-20 token on the Ethereum blockchain, providing users with a digital representation of traditional fiat currency while harnessing the benefits of blockchain technology.Key Features of USD Coin:1. Price Stability: Like other stablecoins, USDC is engineered to maintain a stable value by pegging itself to the US dollar. This stability makes it an attractive choice for cryptocurrency users looking to mitigate the price volatility commonly associated with other digital assets.2. Transparency and Regulation: USD Coin is known for its commitment to transparency and compliance. Issued by regulated financial institutions, it undergoes regular audits to ensure that each USDC token in circulation is backed by an equivalent reserve of US dollars, reinforcing its credibility in the market.3. Swift and Cost-Effective Transactions: The use of blockchain technology facilitates quick and low-cost transactions with USDC. It can be transferred seamlessly across the Ethereum network, making it a practical choice for individuals engaging in cryptocurrency transactions.The Role of USD Coin in the Crypto Ecosystem:1. Digital Dollar Representation: USDC provides users with a digital alternative to traditional US dollars, enabling them to navigate the crypto space without exposure to the volatility commonly associated with other cryptocurrencies.2. Trading Pairs and Liquidity: USD Coin is widely adopted as a trading pair on cryptocurrency exchanges. Its prevalence in trading pairs enhances liquidity and provides a stable medium for traders to move in and out of positions swiftly.3. DeFi Protocols and Smart Contracts: The stability of USDC has made it a preferred choice within decentralized finance (DeFi) applications. It serves as collateral, liquidity, and a stable unit of account within various smart contract-based financial protocols.Conclusion:USD Coin (USDC) has positioned itself as a reliable and stable player in the cryptocurrency ecosystem. Its commitment to transparency, the stability afforded by its peg to the US dollar, and its integration into various aspects of decentralized finance highlight its significance in providing a bridge between traditional finance and the evolving world of digital assets. As with any cryptocurrency, investors are encouraged to assess their goals and risk tolerance before considering USDC as part of their portfolio.$BTC $ETH $BNB #USDC #USDCTreasury Don’t forget to follow me and like the article your likes motivates me to write this article. Wish you best.

What is USDC

Introduction:In the realm of cryptocurrencies, stability is a sought-after quality, and USD Coin (USDC) has emerged as a prominent stablecoin designed to offer just that. This article aims to shed light on USDC, exploring its purpose, features, and the role it plays within the dynamic world of digital assets.Understanding USD Coin (USDC):USD Coin (USDC) is a stablecoin pegged to the value of the US dollar on a 1:1 basis. It operates as an ERC-20 token on the Ethereum blockchain, providing users with a digital representation of traditional fiat currency while harnessing the benefits of blockchain technology.Key Features of USD Coin:1. Price Stability: Like other stablecoins, USDC is engineered to maintain a stable value by pegging itself to the US dollar. This stability makes it an attractive choice for cryptocurrency users looking to mitigate the price volatility commonly associated with other digital assets.2. Transparency and Regulation: USD Coin is known for its commitment to transparency and compliance. Issued by regulated financial institutions, it undergoes regular audits to ensure that each USDC token in circulation is backed by an equivalent reserve of US dollars, reinforcing its credibility in the market.3. Swift and Cost-Effective Transactions: The use of blockchain technology facilitates quick and low-cost transactions with USDC. It can be transferred seamlessly across the Ethereum network, making it a practical choice for individuals engaging in cryptocurrency transactions.The Role of USD Coin in the Crypto Ecosystem:1. Digital Dollar Representation: USDC provides users with a digital alternative to traditional US dollars, enabling them to navigate the crypto space without exposure to the volatility commonly associated with other cryptocurrencies.2. Trading Pairs and Liquidity: USD Coin is widely adopted as a trading pair on cryptocurrency exchanges. Its prevalence in trading pairs enhances liquidity and provides a stable medium for traders to move in and out of positions swiftly.3. DeFi Protocols and Smart Contracts: The stability of USDC has made it a preferred choice within decentralized finance (DeFi) applications. It serves as collateral, liquidity, and a stable unit of account within various smart contract-based financial protocols.Conclusion:USD Coin (USDC) has positioned itself as a reliable and stable player in the cryptocurrency ecosystem. Its commitment to transparency, the stability afforded by its peg to the US dollar, and its integration into various aspects of decentralized finance highlight its significance in providing a bridge between traditional finance and the evolving world of digital assets. As with any cryptocurrency, investors are encouraged to assess their goals and risk tolerance before considering USDC as part of their portfolio.$BTC $ETH $BNB #USDC #USDCTreasury Don’t forget to follow me and like the article your likes motivates me to write this article. Wish you best.
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💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 250,000,000 #USDC (250,062,499 USD) minted at USDC Treasury #HotTrends $BTC $USDC #USDCTreasury
💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 250,000,000 #USDC (250,062,499 USD) minted at USDC Treasury

#HotTrends $BTC $USDC #USDCTreasury
💰💨 $100M USD Surges in $USDC ! 🏦🚀 🌐💡 Just 9 hours ago, a jaw-dropping 50,000,000 #USDC , valued at 50,044,999 USD, was minted. But that's not all—the frenzy continues with another 49,990,000 #usdc minted, totaling a colossal 100M USD! 💵🏦 🔗 Transaction Hashes:👇 0x6e8cc2643f813de0db25000ea332cde003817cad1ec6de1de4b5febd76954789 0xad23379409130e9a73433e36168b8e12e58ee7d1b1be887b41a6daf44dc9b8fe The crypto cosmos is abuzz with speculation—what could be brewing in the #USDCTreasury ? Stay tuned for more updates as the saga unfolds! 🚀🔍 ❤️ A small LIKE & FOLLOW ❤️ Motivates me a LOT  😍
💰💨 $100M USD Surges in $USDC ! 🏦🚀

🌐💡 Just 9 hours ago, a jaw-dropping 50,000,000 #USDC , valued at 50,044,999 USD, was minted. But that's not all—the frenzy continues with another 49,990,000 #usdc minted, totaling a colossal 100M USD! 💵🏦

🔗 Transaction Hashes:👇

0x6e8cc2643f813de0db25000ea332cde003817cad1ec6de1de4b5febd76954789

0xad23379409130e9a73433e36168b8e12e58ee7d1b1be887b41a6daf44dc9b8fe

The crypto cosmos is abuzz with speculation—what could be brewing in the #USDCTreasury ?

Stay tuned for more updates as the saga unfolds! 🚀🔍

❤️ A small LIKE & FOLLOW ❤️ Motivates me a LOT  😍
Burning Bright: A Whopping $74.4 Million $USDC Sent to the Flames! 🔥💰🚀 🔥🚀 Incredible news! A whopping 74,412,196 #usdc (equivalent to $74,409,429 USD) has been sent to the fiery depths of the #USDCTreasury , never to be seen again! 🔥🔥🔥 🔗 For those curious, you can check out the scorching transaction details right here: 👇👇👇👇 0x5a6703071eac15ac132c21ffbbb0a301c528250e77e577940f85f5791e4b5aac 🚀 Disclaimer: No financial advice intended; always perform your due diligence! 🔒💰 🙏 a small LIKE & FOLLOW 🙏 MOTIVATES ME A LOT ❤️
Burning Bright: A Whopping $74.4 Million $USDC Sent to the Flames! 🔥💰🚀

🔥🚀 Incredible news! A whopping 74,412,196 #usdc (equivalent to $74,409,429 USD) has been sent to the fiery depths of the #USDCTreasury , never to be seen again! 🔥🔥🔥

🔗 For those curious, you can check out the scorching transaction details right here:
👇👇👇👇

0x5a6703071eac15ac132c21ffbbb0a301c528250e77e577940f85f5791e4b5aac 🚀

Disclaimer: No financial advice intended; always perform your due diligence! 🔒💰

🙏 a small LIKE & FOLLOW 🙏 MOTIVATES ME A LOT ❤️
@Hani_crypto Follow #PI COIN,#PI COIN#USDD Consulting a financial advisor about your particular circumstances is best. According to Binance, the live price of Pi is $30.25 per (PI / USD). According to Crypto.com, Pi's price today is US$30.36, with a 24-hour trading volume of $282,394. According to Binance, the Pi Network app is safe to use. However, there is no guarantee that the Pi Network coin will be worth anything in the future. The project is still in its early stages, and it is possible that it will never be successful. According to Techopedia, the Pi Network team has officially declared their plans to initiate the Open Mainnet phase in 2024, and is expected between March and June. Follow Consulting a financial advisor about your particular circumstances is best. According to Binance, the live price of Pi is $30.25 per (PI / USD). According to Crypto.com, Pi's price today is US$30.36, with a 24-hour trading volume of $282,394. According to Binance, the Pi Network app is safe to use. However, there is no guarantee that the Pi Network coin will be worth anything in the future. The project is still in its early stages, and it is possible that it will never be successful. According to Techopedia, the Pi Network team has officially declared their plans to initiate the Open Mainnet phase in 2024, and is expected between March and June. #USDCTreasury
@Hani crypto Follow #PI COIN,#PI COIN#USDD
Consulting a financial advisor about your particular circumstances is best. According to Binance, the live price of Pi is $30.25 per (PI / USD). According to Crypto.com, Pi's price today is US$30.36, with a 24-hour trading volume of $282,394. According to Binance, the Pi Network app is safe to use. However, there is no guarantee that the Pi Network coin will be worth anything in the future. The project is still in its early stages, and it is possible that it will never be successful. According to Techopedia, the Pi Network team has officially declared their plans to initiate the Open Mainnet phase in 2024, and is expected between March and June.
Follow Consulting a financial advisor about your particular circumstances is best. According to Binance, the live price of Pi is $30.25 per (PI / USD). According to Crypto.com, Pi's price today is US$30.36, with a 24-hour trading volume of $282,394. According to Binance, the Pi Network app is safe to use. However, there is no guarantee that the Pi Network coin will be worth anything in the future. The project is still in its early stages, and it is possible that it will never be successful. According to Techopedia, the Pi Network team has officially declared their plans to initiate the Open Mainnet phase in 2024, and is expected between March and June. #USDCTreasury
💰💨 $50M Freshly Minted in $USDC ! 🏦🚀 🌐💡 Just 56 minutes ago, a whopping 49,990,000 #USDC , valued at 50,019,994 USD, was minted at the #USDCTreasury ! 💵🏦 🔗 Transaction Hash:👇 0xfc9ce36bf7dbe2b34940d13a4d272d66c2487312c77274efa4d181c750b3c773 This massive influx is sending shockwaves through the crypto cosmos, raising eyebrows and fueling speculation. What could be brewing in the #usdc Treasury? 🤔💼 Stay tuned for more updates as the crypto saga unfolds! 🚀🔍 ❤️ A small LIKE & FOLLOW ❤️ Motivates me a LOT  😍
💰💨 $50M Freshly Minted in $USDC ! 🏦🚀

🌐💡 Just 56 minutes ago, a whopping 49,990,000 #USDC , valued at 50,019,994 USD, was minted at the #USDCTreasury ! 💵🏦

🔗 Transaction Hash:👇
0xfc9ce36bf7dbe2b34940d13a4d272d66c2487312c77274efa4d181c750b3c773

This massive influx is sending shockwaves through the crypto cosmos, raising eyebrows and fueling speculation. What could be brewing in the #usdc Treasury? 🤔💼

Stay tuned for more updates as the crypto saga unfolds! 🚀🔍

❤️ A small LIKE & FOLLOW ❤️ Motivates me a LOT  😍
Massive $USDC Minting: Over $125 Million USDC Generated in One Hour A substantial amount of #USDC has been #minted within a remarkably short span of time, adding significant liquidity to the USDC ecosystem. In the past hour alone, a staggering 125,890,496 USDC, valued at 125,789,784 USD, was minted at the #USDCTreasury on the #Ethereum blockchain. Transaction hash👇 0xecfe9af224cb1722a06655220797d0c294a52d16d1715689d97f4364488ec990.
Massive $USDC Minting: Over $125 Million USDC Generated in One Hour
A substantial amount of #USDC has been #minted within a remarkably short span of time, adding significant liquidity to the USDC ecosystem.
In the past hour alone, a staggering 125,890,496 USDC, valued at 125,789,784 USD, was minted at the #USDCTreasury on the #Ethereum blockchain.
Transaction hash👇 0xecfe9af224cb1722a06655220797d0c294a52d16d1715689d97f4364488ec990.
⚠️ On April 5, Binance will stop supporting USDC deposits and withdrawals via the Tron network (TRC20). #USDCTreasury
⚠️ On April 5, Binance will stop supporting USDC deposits and withdrawals via the Tron network (TRC20).

#USDCTreasury
Cryptocurrency stablecoin slides by over 30% against naira on Binanceby over 30% against naira on BinanceRepresentations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration , Reuters/REUTERSRepresentations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/IllustrationReuters/REUTERSThere are further speculation that the CBN is cracking down on Binance’s P2P, impacting the popularity of the transaction method#USDCTreasury Tether (USDT), a cryptocurrency stablecoin has fallen by over 30 percent against the Nigerian naira (NGN) on Binance, a development which dealers attributed to the Central Bank of Nigeria’s (CBN) clearing of foreign exchange (forex) backlog with three banks.There are further speculation that the CBN is cracking down on Binance’s P2P, impacting the popularity of the transaction method.$BTC $XRP Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed “100 percent by Tether’s reserves,” according to its website.Related PostsNASS, GMCL organise workshop for MDAs on legislative complianceHajj: NAHCON seeks improved service delivery for pilgrimsFG targets N45trn VAT revenue by 2026Nonetheless, as the USDT is bleeding against the naira, some community members believe that CBN is trading on Binance P2P to force the rate of USDT down further.Changpeng Zhao, the co-founder of cryptocurrency exchang Binance, posting a cryptic comment on X (Twitter) led the community to speculate that the CBN is cracking down on Binance peer-to-peer (P2P) exchange rates.An X (Twitter) user wrote: “Looks like a joke, but if CBN is really selling USDT on Binance P2P to trigger a price dump, then we are in more trouble than we imagined.“Is this what the apex bank is doing?”Tether is owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex.Analysts said Dollar-based stablecoins have become a desirable alternative for customers and businesses in regions with unstable local currencies like Nigeria’s naira.Based on Google trends data, Nigeria also has the highest interest in Tether with a perfect score, further emphasizing the high level of interest and recognition of the digital currency in the country.Only recently, the U.S. unit of cryptocurrency exchange Binance halted withdrawal of dollars by its clients from the platform.In early June, Binance.US halted dollar deposits, after the U.S. Securities and Exchange Commission (SEC) asked a court to freeze its assets.“In the event that customers wish to withdraw U.S. dollar funds from their account, they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn,” the terms page had earlier clarified.Tether belongs to a fast-growing breed of cryptocurrencies called stablecoins, which aim to keep the price of their tokens stable, most commonly by tying it to the price of a traditional currency like the U.S. dollar.Tether also issues tokens pegged to the euro, the offshore Chinese yuan, the Mexican peso, and gold, none with more than a small fraction of the market cap of its U.S. dollar-pegged USDT tokenstokens.The peg to a traditional currency, often backed by collateral reserves made up entirely or mostly of the pegged currency, ensures stablecoinsaren’t subject to the same price volatility as more speculative cryptocurrencies like Bitcoin.#CryptoMoj Meanwhile, the Association of Bureaux de Change Operators of Nigeria (ABCON) previously asked for a Binance ban, citing pressure on the Naira.The citizens of developing countries often resort to crypto services for ease of transactions. Many believe that this is one of the reasons for the popularity of cryptocurrency in Nigeria.Many believe that Naira is getting stronger as the CBN has been clearing its forex backlog.Recently, the Central Bank of Nigeria demonstrated a favourable stance regarding stablecoins. The construction of a legal framework for the potential adoption of a stablecoin in Nigeria was studied in an 83-page CBN research report that was recently published by the central bank under the title “Nigeria Payments System Vision 2025.”#BinanceSquareTalks The apex bank’s report highlighted that stablecoin-based payment systems would probably succeed in the country; hence, a framework must be created.

Cryptocurrency stablecoin slides by over 30% against naira on Binance

by over 30% against naira on BinanceRepresentations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration , Reuters/REUTERSRepresentations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/IllustrationReuters/REUTERSThere are further speculation that the CBN is cracking down on Binance’s P2P, impacting the popularity of the transaction method#USDCTreasury Tether (USDT), a cryptocurrency stablecoin has fallen by over 30 percent against the Nigerian naira (NGN) on Binance, a development which dealers attributed to the Central Bank of Nigeria’s (CBN) clearing of foreign exchange (forex) backlog with three banks.There are further speculation that the CBN is cracking down on Binance’s P2P, impacting the popularity of the transaction method.$BTC $XRP Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed “100 percent by Tether’s reserves,” according to its website.Related PostsNASS, GMCL organise workshop for MDAs on legislative complianceHajj: NAHCON seeks improved service delivery for pilgrimsFG targets N45trn VAT revenue by 2026Nonetheless, as the USDT is bleeding against the naira, some community members believe that CBN is trading on Binance P2P to force the rate of USDT down further.Changpeng Zhao, the co-founder of cryptocurrency exchang Binance, posting a cryptic comment on X (Twitter) led the community to speculate that the CBN is cracking down on Binance peer-to-peer (P2P) exchange rates.An X (Twitter) user wrote: “Looks like a joke, but if CBN is really selling USDT on Binance P2P to trigger a price dump, then we are in more trouble than we imagined.“Is this what the apex bank is doing?”Tether is owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex.Analysts said Dollar-based stablecoins have become a desirable alternative for customers and businesses in regions with unstable local currencies like Nigeria’s naira.Based on Google trends data, Nigeria also has the highest interest in Tether with a perfect score, further emphasizing the high level of interest and recognition of the digital currency in the country.Only recently, the U.S. unit of cryptocurrency exchange Binance halted withdrawal of dollars by its clients from the platform.In early June, Binance.US halted dollar deposits, after the U.S. Securities and Exchange Commission (SEC) asked a court to freeze its assets.“In the event that customers wish to withdraw U.S. dollar funds from their account, they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn,” the terms page had earlier clarified.Tether belongs to a fast-growing breed of cryptocurrencies called stablecoins, which aim to keep the price of their tokens stable, most commonly by tying it to the price of a traditional currency like the U.S. dollar.Tether also issues tokens pegged to the euro, the offshore Chinese yuan, the Mexican peso, and gold, none with more than a small fraction of the market cap of its U.S. dollar-pegged USDT tokenstokens.The peg to a traditional currency, often backed by collateral reserves made up entirely or mostly of the pegged currency, ensures stablecoinsaren’t subject to the same price volatility as more speculative cryptocurrencies like Bitcoin.#CryptoMoj Meanwhile, the Association of Bureaux de Change Operators of Nigeria (ABCON) previously asked for a Binance ban, citing pressure on the Naira.The citizens of developing countries often resort to crypto services for ease of transactions. Many believe that this is one of the reasons for the popularity of cryptocurrency in Nigeria.Many believe that Naira is getting stronger as the CBN has been clearing its forex backlog.Recently, the Central Bank of Nigeria demonstrated a favourable stance regarding stablecoins. The construction of a legal framework for the potential adoption of a stablecoin in Nigeria was studied in an 83-page CBN research report that was recently published by the central bank under the title “Nigeria Payments System Vision 2025.”#BinanceSquareTalks The apex bank’s report highlighted that stablecoin-based payment systems would probably succeed in the country; hence, a framework must be created.
A significant amount of 84,463,706 USDC (equivalent to 84,514,569 USD) was burned at the USDC Treasury around 10 hours ago. Transaction hash: 0xe5080cd8ac2d779d5fd61e977b28341d2a6776435a282d6c4f8bd1096723b23c #USDCTreasury
A significant amount of 84,463,706 USDC (equivalent to 84,514,569 USD) was burned at the USDC Treasury around 10 hours ago.

Transaction hash: 0xe5080cd8ac2d779d5fd61e977b28341d2a6776435a282d6c4f8bd1096723b23c

#USDCTreasury
🚨🚨BREAKING NEWS 🚨🚨 USDC, WBNB, ETH Vanish in $50M Radiant Capital Cyberattack In a recent report by web3 security startup Ancilia, the attack involved exploiting the ‘transferFrom’ function in the blockchain contracts. Through this vulnerability the attackers were able to perform unauthorized transactions from users accounts leading to the direct theft of USDC, WBNB, and ETH from Radiant’s liquidity pools. The firm, however, stated that the exploitation of this function could have been prevented by the implementation of more security measures together with regular audits of contract changes. In addition, revelations show that out of the eleven private keys used for protection and enhancement of the Radiant protocols, three had been tampered with. Security experts are investigating how the keys were obtained, suspecting a phishing attack on key holders or a compromised interface. #MemeCoinTrending #TeslaTransferBTC #BNBAnalysis #USDCTreasury #ETHETFsApproved $USDC {spot}(USDCUSDT) $ETH
🚨🚨BREAKING NEWS 🚨🚨
USDC, WBNB, ETH Vanish in $50M Radiant Capital Cyberattack

In a recent report by web3 security startup Ancilia, the attack involved exploiting the ‘transferFrom’ function in the blockchain contracts. Through this vulnerability the attackers were able to perform unauthorized transactions from users accounts leading to the direct theft of USDC, WBNB, and ETH from Radiant’s liquidity pools.

The firm, however, stated that the exploitation of this function could have been prevented by the implementation of more security measures together with regular audits of contract changes.

In addition, revelations show that out of the eleven private keys used for protection and enhancement of the Radiant protocols, three had been tampered with. Security experts are investigating how the keys were obtained, suspecting a phishing attack on key holders or a compromised interface.
#MemeCoinTrending #TeslaTransferBTC #BNBAnalysis #USDCTreasury #ETHETFsApproved $USDC
$ETH
The chart above shows the $USDC /USDT pair with a current price of 0.9999, indicating a stable near-parity relationship between the two stablecoins. Over the past 24 hours, the price has fluctuated within a narrow range, with a high of 1.0000 and a low of 0.9997. The minimal price movement demonstrates typical behavior for stablecoins, which are designed to maintain close to a 1:1 peg. The trading volume is evenly balanced on both sides, as indicated by the equal presence of green and red candles. The consistent price action around the 1.0000 level suggests stability, while the minor dips to 0.9997 may represent opportunities for quick arbitrage trading. Traders looking for safe, low-risk positions may find this market appealing for short-term movements, but substantial returns may be limited due to the narrow range. #USDC✅ #USDCTreasury #BTCPredictedNewATH #BinanceLaunchpoolHMSTR #moonbix
The chart above shows the $USDC /USDT pair with a current price of 0.9999, indicating a stable near-parity relationship between the two stablecoins. Over the past 24 hours, the price has fluctuated within a narrow range, with a high of 1.0000 and a low of 0.9997. The minimal price movement demonstrates typical behavior for stablecoins, which are designed to maintain close to a 1:1 peg. The trading volume is evenly balanced on both sides, as indicated by the equal presence of green and red candles. The consistent price action around the 1.0000 level suggests stability, while the minor dips to 0.9997 may represent opportunities for quick arbitrage trading. Traders looking for safe, low-risk positions may find this market appealing for short-term movements, but substantial returns may be limited due to the narrow range.
#USDC✅ #USDCTreasury #BTCPredictedNewATH #BinanceLaunchpoolHMSTR #moonbix
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