Crypto.com Acquires 80 Million USDCs from USDC Treasury
It is reported that according to Whale Alert monitoring data, 80 million USDCs have been transferred from USDC Treasury to Crypto.com.
80 million USDCs…
It is reported that according to Whale Alert monitoring data, 80 million USDCs have been transferred from USDC Treasury to Crypto.com.
80 million USDCs transferred from USDC Treasury to Crypto.com
Interpretation of the news:
The news recently broke out that cryptocurrency exchange platform, Crypto.com, has received a whopping 80 million USDCs from the USDC Treasury, as noted by Whale Alert monitoring data. This move marks yet another strategic business venture for Crypto.com, one that will help the platform in expanding its offerings to traders and investors alike.
USDC is a stablecoin, which means that its value is pegged to a fiat currency such as the US dollar. This makes it less volatile than other cryptocurrencies like Bitcoin or Ethereum. It is among the most widely used stablecoins worldwide, and is known to be particularly useful in reducing transactional fees for global payments.
With this acquisition of 80 million USDCs, Crypto.com will have more resources to offer users better payouts for staking, creating greater incentives to store USDCs in the platform’s wallet, and thus, increasing its liquidity. In addition, the integration of USDCs is expected to simplify and streamline the process of depositing, withdrawing, or transferring funds.
The transfer of such a significant amount of USDCs is a demonstration of Crypto.com’s solidity in the cryptocurrency market. As the crypto world is relatively young and can be unpredictable, users tend to favor platforms with a secure and reliable track record. Crypto.com has become increasingly popular for its user-friendly features, competitive interest rates on staking, and a user base of over 10 million customers; acquiring such a large amount of USDCs from the Treasury adds yet another layer of reliability.
The announcement of this transfer has had a positive impact on the Crypto.com platform, with the price of its token (CRO) increasing by 10% within hours of the announcement. Additionally, USDCs have also been on the rise, currently being traded at a $1.00 rate with a market cap of over $24 billion.
In conclusion, the acquisition of 80 million USDCs from the USDC Treasury is a significant move for Crypto.com, one that supports the platform’s continued growth in the crypto space. As the use of cryptocurrencies continues to grow, users are likely to appreciate the robustness that platforms like Crypto.com offer.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/2403/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
XMR Wallet Upgrades Website To Support Developing Countries And Charitable organizations
On April 19th, it was reported that XMR Wallet is upgrading its website to improve speed and efficiency, with a focus on responding to the needs of users in developing countries an
-
Table of Contents
On April 26th, according to official Twitter, Avalanche\’s Cortina upgrade was activated on the main website around 23:00 yesterday. Cortina is the latest version of Avalanche Go, w
-
Alliance Block and ABO Digital team up to boost cryptocurrency investment
It is reported that Alliance Block, a blockchain infrastructure provider, has announced a partnership with digital investment company ABO Digital to provide low risk and compliant financial support for cryptocurrency projects for institutional and retail investors through tokenization. ABO Digital is the digital asset investment department of the ABO Group, which provides private financing for listed companies and will help negotiate and construct financial instruments based on the capital and liquidity objectives of the project. AllianceBlock collaborates with ABO Digital to develop token structured products Analysis based on this information:Alliance Block, a leading blockchain infrastructure provider, has recently announced its partnership with digital investment firm ABO Digital. The collaboration aims to provide institutional and retail investors with low-risk and compliant financial support for cryptocurrency projects through tokenization. This partnership is a much-needed boost for the cryptocurrency market, which is still struggling to gain wide acceptance among traditional investors due to uncertainties surrounding its regulatory framework. By leveraging Alliance Block’s blockchain…
-
What Currency is Yuzi (What Currency is Yuzi)?
What currency is Yuzi? Yuzi\’s value comes from being a synonym for people to co
-
Signature Bank Reopens with Full Services: A Welcome Relief for Customers
According to reports, Signature Bank said that it reopened on Monday without any restrictions or interruptions. Customers will still be serviced by private customer groups. (Jin Sh
-
Blockchain.com and Coinbase Rumors Debunked
According to reports, according to people familiar with the matter, Blockchain. com did not sell any subsidiaries or discuss possible transactions with Coinbas…
-
Generative AI used to increase social engineering attacks by 135%
It is reported that according to the latest research report released by the network security company Darktrace, attackers use generative AI such as ChatGPT to increase the number o
-
Cardano’s Network Upgrade Improves Security and Interoperability
On February 15, it was reported that Cardano had completed the network upgrade aimed at improving network security and Plutus cross-chain interoperability. Thi…
-
BTC Trading Volume Hits 1-Month Low: What Does it Mean for Investors?
According to reports, data shows that the average trading volume of BTC has just reached a 1-month low of $76133.03 in the past hour (7d MA).
BTC average trading volume hit a 1-mon -
Misclassification of Accounts Led to Closure of Contract Position for Australian Users on Binance
According to reports, Binance responded to the closure of the contract position of Australian users, saying that this was due to the misclassification of some …
-
Silvergate Bank and CEO Charged in Class Action Lawsuit for Aiding and Abetting Multi-billion Dollar Fraud Plan
On February 15, the encryption bank Silvergate Bank and its chief executive Alan Lane were charged with \”aiding and abetting\” in a new class action lawsuit \”th…
-
Helika Completes $4M Financing For Web3 Game And NFT Analysis
It is reported that Web3 game and NFT analysis platform Helika completed a financing of US $4 million, Diagram Ventures led the investment, and Distributed Cap…
-
**Coinbase L2 Network Base Announces First Hard Fork for Improved Security**
According to reports, the Coinbase L2 network Base stated on Twitter that the first hard fork will be conducted on the Base testing network, scheduled for 01:00 Beijing time on Apr
-
Meta Universe Gaming Goes Open with Digi
On March 13, according to the official news, Digination, the meta universe game portal, has completed the brand upgrade and will change its name to “Digi”. At the same time, it will adopt the new domain name digi.fun. It is reported that Digi will provide users with an open metauniverse game platform, enabling users to create and experience unlimited metauniverse scenes. The brand of the universe game portal Digination has been upgraded and will be renamed “Digi” Analysis based on this information:Metauniverse gaming has gained immense popularity in recent years, with gamers seeking more immersive experiences beyond the physical world. Digination, a metauniverse game portal, has recently undergone a brand upgrade and rebranded itself as Digi. This move is expected to result in a more open and inclusive gaming platform, allowing users to create and experience unlimited metauniverse scenes. Digi’s adoption of the domain name digi.fun reflects the brand’s aim to provide an enjoyable and engaging platform for gamers. The…
-
What is Bitcoin made of (what material is Bitcoin made of)
According to BTC Manager, the invention of Bitcoin was created to solve the problems that arose during financial crises. Although it was originally designed by Satoshi Nakamoto, it was finally found to be fake in 2009, which made it worthless and unable to achieve decentralization and anonymity In this sense, Bitcoin can provide people with a safe, stable, and reliable way to store monetary assets and exchange funds; At the same time, as a Medium of exchange, it can also be used to hedge against various legal debts, depreciation of the French currency and other risks. Using blockchain technology to make Bitcoin traceable and secure; And it can also make other encrypted tokens a substitute for the world’s largest virtual commodity in circulation – gold or silver. These are all summaries and applications of the technological principles of “digital gold” that we know today, which can effectively eliminate inflation issues linked to the US dollar and other traditional worlds. In…
-
Overview of important developments on the evening of March 20th
12:00-21:00 Key words: Hong Kong, Taiwan, MasterCard, EU
Overview of important developments on the evening of March 20th
I. Introduction A. Explanation of the topic B.