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Some cryptocurrencies have managed to overcome difficulties generated by crypto winter and are struggling to maintain parity against the dollar.

Two biggest stables on market are rapidly losing their capitalization, and there are numerous reasons

Open-source, decentralized blockchain network, Harmony, has officially upgraded its LayerZero bridge. The blockchain network was announced on Friday, 25th November 2022.

Centre Consortium recently announced an upgrade to the USD Coin (USDC) protocol and smart contract on the Ethereum blockchain, “the OpenZeppelin's Unstructured Storage proxy pattern upgrade, which represents the last part of the USDC Coin Version 2 release started on 13 February 2021, an upgrade

During the second quarter of the year alone, CertiK registered 290 phishing attacks, up 170% from 106 in the first quarter.

Poloniex just announced the suspension of support for stablecoins on the BSC layer.

Circle, in a recent scam alert on Twitter, warned users of an going phishing campaign. According to Circle, the scammers trick users into giving their USDC tokens to other wallets.

Scammers are trying to trick USD Coin (USDC) users into transferring their tokens to malicious addresses

As a major development, the Poloniex crypto exchange has announced that from November 24, it will stop deposits and withdrawals functions for stablecoins on the BEP20 (BSC) network. These include USDT, USDC, TUSD and Binance's own BUSD.

The market cap of Tether dropped amid the FTX fiasco while USD Coin supply increased by $2 billion.

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Binance resumed deposits of Tether on Friday, a day after an unexplained pause, while USD Coin remained on hold.

Circle's Chief Financial Officer Jeremy Fox-Geen has released an update on the operations of the company's stablecoin USD Coin (USDC). Fox-Geen's statement is a response to the market turmoil following the collapse of crypto exchange FTX.

The outflow of stablecoins from exchanges has been on the rise in the wake of the FTX saga. Users appear to be taking custody of their assets, which might have a negative effect on exchanges if it persists.

Multiple exchanges disabled deposits and withdrawals for Solana-based Tether  (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) on Thursday. What Happened: Tether, in a blog post, said, “the move to suspend USDT deposits on these exchanges is likely just due to the heavy connections between FTX (CRYPTO: FTT), Alameda, and Solana (CRYPTO: SOL).

The only change is that Binance restarted Solana USDT — without explanation.

Besides the Ethereum network, users can now deposit and withdraw USD Coin on Solana and Tron, according to a Twitter post by Bill King, Growth Marketing Lead. The support for these two networks is already live.

Cryptocurrency exchanges Binance and OKX temporarily suspended USDC (SOL) and USDT (SOL) deposits.

There is a sharp drop in Solana (SOL) price as exchanges suspend deposits of stablecoins on the Solana network. The post SOL Price Freefalls as Crypto Exchanges Suspend USDT, USDC Transfers on Solana appeared first on BeInCrypto.

Cryptocurrency exchange Binance on Thursday temporarily suspended deposits of the stablecoins USDC (CRYPTO: USDC) and USDT (CRYPTO: USDT) on the Solana blockchain "until further notice," but resumed a few hours later. "After internal assessment and review, Binance has now resumed deposits for USDT (SOL)," the company stated in its official blog post.

Exchanges like Binance, BitMEX, and OKX are limiting deposits and withdrawals for Solana's top stablecoins, without explanation. 

An overview of possible scenarios regarding Solana's future

Binance has yet to provide an explanation for the move, which has been mirrored by other major crypto exchanges.

The Solana cryptocurrency continues crashing amid the FTX crisis, plummeting 7% on the news of exchanges halting deposits in Solana-based stablecoins.