While it seems counterintuitive, Jeremy Allaire, chief executive officer of Circle, the firm that issues USD coin,As crypto traders don’t really use BUSD outside of Binance itself, “this will likely benefit USDC usage as the preferred cross CEX [centralized exchange] and DEX [decentralized exchange] stablecoin rail,” Allaire added. “With consolidated dollar books, it will now be easier and more attractive to move USDC to and from Binance for trading core markets.
The co-founder of Wintermute, a major crypto trading firm, agreed that USDC will benefit. “This is positive for USDC ,” Evgeny Gaevoy Paxos Trust Co., which issues both USDP and Binance’s newly favored BUSD, claimed there were security improvements for users. Crypto trading with USDC, TUSD and USDP “have relatively little volume” compared with both USDT or BUSD on Binance, Clara Medalie, research director at crypto market research firm Kaiko, pointed out in aLow trading volumes mean that trading with these stablecoins carries significantly higher spreads, essentially incurring hidden costs for users.
Source: News Formal (newsformal.com)
sndr_krisztian USDT will be next, after BUSD gains dominant or sufficient part of the trade on Binance. That might be the beginning of the fall of Tether fiat-on-crypto central banking shady presence in crypto markets, on which Bitcoin maxism has largely been relying.
sndr_krisztian
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Source: TheBlock__ - 🏆 464. / 53 Read more »
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Source: CoinDesk - 🏆 291. / 63 Read more »
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Source: CoinDesk - 🏆 291. / 63 Read more »
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Source: TheBlock__ - 🏆 464. / 53 Read more »
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Source: Cointelegraph - 🏆 562. / 51 Read more »