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USDT and USDC supply have increased by nearly $3 billion in the past week, indicating heightened investor activity after the market crash.

Stablecoins are on the rise, becoming one of the most widely used forms of crypto payments to date.

Users of Arbitrum orbit chains, layer-3 solutions for Ethereum built on top of the platform's technology stacks, can now pay gas fees using USDC. The move comes even as ARB, the native token of the Ethereum layer-2, continues to post lower lows, pushing losses to nearly 80% since January 2024 highs.

Users can now set up a US account in two minutes, managing USD as $USDC seamlessly. With early access to this feature, there are no fees involved.

This update allows these chains to charge gas fees using any ERC20 token, including their tokens. Bridged USDC is now supported as a custom gas token on Arbitrum Orbit chains.

Arbitrum Orbit chains now support bridged USD Coin (USDC) as a custom gas token.

TL;DR Arbitrum has integrated USDC as a custom gas token for Orbit chains, simplifying transaction fee payments and improving cost stability. The incorporation of USDC offers predictability in transaction costs and eliminates the need for multiple tokens to cover gas fees.

Arbitrum said it has collaborated with stablecoin issuer Circle to support the use of bridged USD Coin (USDC) as a custom gas token for Orbit Chains, according to an Aug. 7 statement shared with CryptoSlate.

The MiCA regulation has introduced new legislative standards in the EU for euro-backed stablecoins and foreign ones like USD coin.

Binance announces a promotion for new and existing users, offering $100,000 USDC in rewards and loss protection for Spot trading activities.

The Ronin Network has been able to recover approximately $10 million worth of Ethereum (ETH) that was stolen in a recent security breach. As of now, the network expects the US dollar-pegged stablecoin USDC to be returned later in the day.

Year 2024 is getting very tough for the crypto ecosystem. The global market crash and the crypto hacks are affecting digital currencies. In the series of crypto hacks, Ronin Bridge faced a significant exploit, losing around $12 million worth of cryptocurrency. Such exploits highlight ongoing security challenges in the blockchain world.

dYdX announces MegaVault, a feature enabling USDC deposits for liquidity provision and yield generation, with automated market-making strategies across various markets.

In a significant blow to the Ronin Network, the blockchain bridge has reportedly been hacked. It has resulted in the theft of approximately $12 million in Ethereum (ETH) and USD Coin (USDC).

Jump Trading is making significant crypto transactions involving large amounts of USDC stablecoin and is expected to cash out $440 million, notes onchain sleuth Lookonchain.

Circle, the issuer of the stablecoin USDC, has announced that it will end support for its stablecoin on the Flow blockchain effective Sept. 3, 2024. In a blog post on Aug.

Circle announces the discontinuation of USDC support on the Flow blockchain due to an upcoming network upgrade, effective September 3, 2024.

Crypto needs a main character. Today, it's Jump Crypto.

As 2024 progresses, stablecoins are seeing remarkable growth. Their market dominance has climbed to 6.93%, continuing a ten-month trend of increasing value.

Tether (USDT) has long been the leading stable coin, commanding over 70% of the market share. However, recent developments suggest that USDC is making significant strides, with its market share rising by 37% since the collapse of Silicon Valley Bank (SVB).

USDC trading volume climbed 48% in July thanks to the MiCA regulatory framework and significant market inflows. USDC Trading Volume Hits $135 Billion New regulations in Europe regarding digital assets and a jump in market inflows caused Circles stablecoin trading volume to skyrocket in July.

As of July 25, the market cap of USD Coin (USDC) increased 5.4% to $33.6 billion. Circle was the first stablecoin issuer to get approval from EU authorities.

Tether's USDT has become dominant with over 70% market share, after USDC's decline following the SVB collapse.

The market capitalization of stablecoins increased by 2.1% to $164 billion in July, the highest level since April 2022.