USDC – BuyCrypto.Link https://buycrypto.link Easy Crypto Buying Tue, 12 Mar 2024 01:32:08 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 $250M USDC gets minted on Solana – What’s happening? https://buycrypto.link/250m-usdc-gets-minted-on-solana-whats-happening/ Tue, 12 Mar 2024 01:32:08 +0000 https://buycrypto.link/250m-usdc-gets-minted-on-solana-whats-happening/

  • $250 million USDC was minted on the Solana network.
  • The price of SOL continued to grow as sentiment surged.
In recent days, the Solana [SOL] network has witnessed the minting of significant amounts of USD Coin [USDC].

Specifically, within the last few days, a total of $250 million worth of USDC was minted on the Solana network by Circle.

USDC on SOL

Source: X

Stablecoins needed

The minting of $250 million USDC on the Solana blockchain is poised to have a notable impact on the ecosystem.

Circle’s decision to issue a substantial amount of USDC on Solana contributes significantly to the liquidity pool within the network.

This increased liquidity is essential for the efficiency and functionality of various decentralized finance (DeFi) applications and decentralized exchanges operating on Solana.

The further integration of USDC into the Solana ecosystem may attract a broader user base, facilitating easier onboarding for both new retail participants and institutional players.

As a result, the dynamics of trading pairs, particularly SOL/USDC, on decentralized exchanges may experience shifts, influencing market behavior.

The surge in decentralized exchange (DEX) volumes on the Solana network, fueled in part by the presence of meme coins, stands to benefit considerably from the recent influx of USDC.

At press time, the daily DEX volumes on the network had surpassed the $2.5 billion mark. The TVL had also grown during this period, having surpassed the $3 billion mark at press time.

Solana Volumes

Source: Artemis

The rising price of SOL

In terms of price, SOL was trading at $148.96 and its price had appreciated by 0.47% in the last 24 hours and had consistently grown over the last month.

The Social Volume around the Solana network had remained consistent over the last month, while the Weighted Sentiment surged.

This meant that positive comments around SOL had outnumbered the negative ones significantly. The rise in positive sentiment around SOL can also help the price movement of the token in the future.

How much are 1,10,100 SOLs worth today?

There has also been a notable surge in development activity on the Solana network during this period.

The increased engagement in building and enhancing projects on the blockchain further underscores the platform’s robust ecosystem and may contribute to SOL’s positive trajectory.

Solana price

Source: Santiment

Next: WIF’s rise to $3 might be delayed, here’s why
ambcrypto.com
#250M #USDC #minted #Solana #Whats #happening

]]> Distant working startup Deel provides USDC and Solana withdrawals https://buycrypto.link/distant-working-startup-deel-provides-usdc-and-solana-withdrawals/ Tue, 14 Dec 2021 01:07:06 +0000 https://buycrypto.link/remote-working-startup-deel-adds-usdc-and-solana-withdrawals/

commercial

Deel, the fintech agency targeted on payroll, has expanded its crypto capabilities with the addition of two new tokens, in response to an announcement.

Contractors who use the Deel platform to receives a commission can now take their wage within the stablecoin USDC or Solana, the native token of the fast-growing proof-of-stake blockchain. The platform already supported bitcoin, ether and XRP wage funds.

Customers will want an account with the crypto alternate Coinbase with a view to make the most of the brand new performance.

Deel reckons cryptocurrencies supply contractors a quicker solution to receives a commission, with decrease processing charges. Coinbase fees a 1.5% ‘supplier charge’ for crypto wage withdrawals. Moreover, USDC funds will entail a variable charge of 1%, whereas Solana funds will value an additional 1.5%.

Deel’s company purchasers embody the likes of Coinbase, BlockFi, Rarible and OpenSea, in response to co-founder and CEO Alex Bouaziz.

“By definition, crypto firms are decentralized and so they’re hiring all around the world,” he mentioned. “No matter crypto firm you already know, they’re in all probability utilizing Deel.”

Based in 2019, Deel goals to help firms with workforces which might be scattered globally. Along with payroll instruments, the platform additionally helps corporations to rent contractors and full-time employees in over 150 nations by means of domestically integrated entities which might be successfully set free to purchasers.

Deel raised a whopping $425 million in a Sequence D fundraise in October.

In its announcement, the startup mentioned that it has seen a ten% month-on-month improve in demand for crypto wage funds amongst its customers.

Trending Tales

www.theblockcrypto.com
#Distant #working #startup #Deel #provides #USDC #Solana #withdrawals

]]>