Hop Protocol, a team working on interoperability within Ethereum’s layer-two ecosystem, has launched its Hop bridge for the first time. A July 12 blog post notes the bridge has been launched with limited functionality, currently supporting “instant” USD Coin (USDC) transfers between the Ethereum mainnet, Polygon, and xDai Chain.Hop plans to expand the number and assets it … [Read more...] about Hop Protocol launches USDC bridge between Ethereum, Polygon, and xDai
USDC
USDC set to become ‘dominant’ stablecoin on Ethereum
USDC has grown much faster than Tether (USDT) in 2021 and it is emerging as the dominant stablecoin on Ethereum thanks to its popularity in DeFi according to Messari.Research by the analytics firm revealed that the demand for USD Coin has grown so much that it has consumed a large chunk of Tether’s market share this year. Researcher Ryan Watkins predicted that in the coming … [Read more...] about USDC set to become ‘dominant’ stablecoin on Ethereum
Biggest one day USDC print in history marks lowest Bitcoin dominance in years
More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap at the time. The sudden arrival of $3 billion worth of USDC into … [Read more...] about Biggest one day USDC print in history marks lowest Bitcoin dominance in years
VISA to use Ethereum and allow USDC settlements on its network
Global payments giant Visa today announced it would allow the settlement of cryptocurrencies on its network, as per a report on Reuters.“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” said Cuy Sheffield, … [Read more...] about VISA to use Ethereum and allow USDC settlements on its network