 | USDC is being dumped pretty heavily lately and its dominance in the stable coin industry has taken a massive blow. USDC loses $5B market cap in a day. That is 10% being dumped in a day. If this happened to Tether, everyone would make a big deal about it, rightly so. We should also treat USDC with the same scrutiny. The causes for this massive dump may be because of binance stopping their support for USDC, and also because users have less trust in USDC following the tornado cash debacle. Exchanges like Binance and WazirX are delisting USDC. CZ stated it was to enhance liquidity but it looks more like a strategic move to promote BUSD. The next few weeks should be very interesting for USDC. [link] [comments] |
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