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Indian crypto exchange WazirX has announced the delisting of major stablecoins Tether (USDT), Pax Dollar (USDP), and True USD (TUSD). The post WazirX to Follow Binance in Converting Stablecoins to BUSD appeared first on BeInCrypto.
WazirX will no longer support the stablecoins USDC, TUSD, and USDP. Instead, it will push for adopting Binance's BUSD.
Indian cryptocurrency trading platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange
The crypto asset exchange Wazirx is following Binance's move by delisting a number of stablecoins and automatically converting them to BUSD at a 1:1 ratio. Wazirx customers have until September 23 to withdraw their stablecoins if they don't want the funds converted.
The decision to transition to greater BUSD support comes after WazirX and Binance last month got into a public spat over the Indian firm's ownership. The post WazirX exchange to delist stablecoins USDC, USDP, and TUSD appeared first on The Block.
India's largest crypto exchange WazirX has followed Binance in delisting three stablecoins and "auto-converting" user balances to BUSD.
Often an overlooked part of the cryptocurrency market, stablecoins can be used to determine the current state of the market. The post Research: USDT, USDC exchange balance going in opposite directions appeared first on CryptoSlate.
In yet another jolt to USDC, the second largest stablecoin, yet another crypto exchange is set to delist it. Earlier this month, top exchange Binance announced its plans to discontinue support for USDC transactions.
WazirX will automatically convert customer holdings into BUSD in an effort to boost the value of Binance's stablecoin.
Just like Binance, India-based exchange WazirX will implement BUSD auto-conversion for balances of USDC, USDP and TUSD at a 1:1 ratio in October.
Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from $171.37 billion to today's $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July.
‘How tables have turned' is one of the most common phrases used in this ‘niche' yet the emerging world of cryptocurrencies. USD Circle [USDC] witnessed the wrath of a dying utility after showcasing its will to rise to the #1 spot.
DeFi protocol, MakerDAO [MKR], updated the risks it could face as a result of the Ethereum [ETH] Merge. Recall that the crypto lending project had initially highlighted some threats in August.
Accredited institutions can borrow USD OR USDC starting at 6% APR, according to the company.
Amongst choppy market conditions and an uncertain macroeconomic environment, a new Ethereum-based token, Uniglo (GLO), is rapidly rising to prominence. This new social currency promises an improved store of value and has already risen by 35% in the last month.
The crypto lender looks to build its vault collateral while moving away from centralized stablecoins.
Binance is converting user funds to its Binance USD (BUSD) stablecoin from alternatives, including the larger USD coin (USDC). Binance Chief Communications Officer Patrick Hillmann shares his insights and why "it really shouldn't be that big a surprise.
The Algorand Foundation confirmed its exposure to crypto lender Hodlnaut.
The Binance Stablecoin (CRYPTO: BUSD) on Saturday surpassed the $20 billion market cap. In the overall crypto market, it stands at the sixth position and third among stablecoins by the market cap.
Major cryptocurrency trading platform Coinbase is interested in forming a partnership with MakerDAO, the most prominent decentralized lending platform.
Beginning late September, USD coin (USDC), Paxos dollar (USDP) and trueUSD (TUSD) will no longer be traded at Binance, and deposits will automatically be converted to Binance USD (BUSD). Circle CEO Jeremy Allaire expects USDC to benefit from getting booted.
Data from blockchain cybersecurity firm CertiK indicates that $370,000 in flash loan attacks exploited the Avalanche blockchain earlier this week. Decentralized finance (DeFi) has been a lucrative target for flash loan attacks for years.
The market cap gap between Tether and USDC had narrowed to $10 billion earlier this year.
The crypto exchange Binance has recently continued to push for growth in its share of the Bitcoin volume, as well as the stablecoin market.
