Good news for Stellar owners today, who through no effort of their own increased the value of their holdings by 10% in the past 24 hours. The value of a single Stellar, or XLM, is now $0.08.
The price hike could perhaps be attributed to Thursday's announcement that USDC, the US dollar-pegged stablecoin led by Coinbase and Circle, will integrate with the Stellar blockchain at the start of next year.
Announcing Circle's USDC support for Stellar across its suite of payments infrastructure APIs and business account products by Q1 2021 🚀 https://t.co/MrlQB4JTGA
This makes the Stellar blockchain, which is powered by the eponymous cryptocurrency that just rose by 10%, a popular choice for businesses seeking to integrate USDC. USDC is the only major US dollar-pegged stablecoin supported by the Stellar blockchain.
USDC, the US dollar-pegged stablecoin managed by Circle and Coinbase, is coming to the Stellar blockchain, Circle announced today.
Circle will add USDC support to Stellar’s vast array of products, among them payments tools, infrastructure APIs and business accounts products, by the first quarter of next year. That means that these businesses can soon start using the Stellar-ized version of USDC.
Announcing Circle's USDC support for Stellar across its suite of payments infrastructure APIs and b...
With a market cap of $2.7 billion, USDC is the bigger fish; Stellar's market cap is $1.6 billion. Stellar is USDC's third "official" blockchain alongside Ethereum and Algorand.
“The addition of USDC to Stellar will allow us to continue to expand our global reach in pursuit of this mission while opening up new avenues for growth and innovation for the developers and businesses building on the network,” said Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, in a statement following Thursday's announcement.
USDC is breaking up with Ethereum—or, at the very least, it’s time to start seeing other blockchains.
Centre, the collaboration between Coinbase and Circle that administers the USDC stablecoin, announced Wednesday a framework for multi-chain support for USDC. Algorand will be the first non-Ethereum blockchain to deploy support for USDC, the first in what’s likely to be a long line of protocols interested in integrating the world’s second-most popular stablecoin.
Exciting milestone for Circle an...
Trading volumes for XLM more than doubled in the past 24 hours. Yesterday, traders shifted $127 million worth of the cryptocurrency; today, the trading volume for Stellar in the past 24 hours is $274 billion.
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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