USDC in the spotlight: latest news

The momentum for AIXBT against USDC is rapidly increasing. The price of $AIXBT has risen by nearly 47%, fluctuating between 0.0864 and 0.0916, while strong buying pressure is evident on the Bollinger Bands.

Coinbase shares surged after JPMorgan upgraded the stock, citing the expansion of the Base network and promising prospects for USDC monetization. The company's market capitalization is nearing $91 billion.

On-chain analyst Ai Aunt reported that the address 0xsun.eth opened a short position on Bitcoin after depositing 303,000 USDC as margin to Hyperliquid.

Zepz, the global remittance company known for WorldRemit and Sendwave, has expanded its blockchain presence by launching the Sendwave Wallet, which facilitates USDC transfers.

Coinbase stock has experienced a significant rise, surpassing $353, following an upgrade from JPMorgan, which raised its price target to $404. This positive outlook is attributed to the potential for monetization opportunities.

Coinbase and Cloudflare have launched the x402 Protocol, which facilitates instant $USDC payments directly through HTTP. This innovative technology integrates finance, artificial intelligence, and web infrastructure to enhance online transactions.

Circle has announced its investment in the Hyperliquid ecosystem while simultaneously launching its native USDC on the derivatives-focused protocol.

MasterBOT is a global digital currency exchange that provides cryptocurrency trading, advanced tools, and staking options suitable for both beginners and experienced traders.

According to official data from Jinse Finance, Circle issued approximately 6.2 billion USDC and redeemed about 5.6 billion USDC in the week ending October 23, resulting in an increase of around 600 million USDC in circulation.

Jinse Finance has reported that Faircaster announced on the X platform that the AI agent platform Bankr SDK now offers support for the X402 protocol and USDC.

Ethena's innovative dual stablecoin approach, featuring both synthetic and asset-backed options, poses a significant challenge to USDC's market dominance. With a market capitalization of $12.26 billion for USDe and strategic partnerships with Binance and Jupiter, Ethena is strengthening its position in the stablecoin market.

The circulation of USDC increased by $600 million in just one week, indicating a growing demand for stablecoins and enhancing market liquidity. This expansion of Circle's USDC may reflect broader trends in the cryptocurrency market.

JPMorgan has upgraded Coinbase's stock rating to "Overweight" with a price target of $404, citing the potential of the Base token and opportunities for restructuring USDC rewards.

In the week leading up to October 23, Circle issued about 6.2 billion USDC while redeeming around 5.6 billion USDC, resulting in an increase of approximately 600 million USDC in circulation.

Analysts are focusing on five stocks, including Coinbase (COIN). This article provides an overview of their recent ratings and the reasoning behind these evaluations.

Coinbase Global's stock surged by 9.8% following an upgrade from JPMorgan, which changed its rating from 'neutral' to 'overweight'. The company is also reviewing its USDC program and is in the process of seeking a national trust bank charter.

An early Bitcoin holder, identified by the address 1011short, has deposited 100 BTC, valued at approximately $11.1 million, along with 326 million USDC into the Bitget exchange, according to data from ChainCatcher monitored by Lookonchain.

A newly created wallet has deposited 2.125 million USDC into Hyperliquid and established a 7x long position on ENA, according to monitoring by Onchain Lens reported by BlockBeats News on October 24.

An on-chain analysis by Ai Aunt (@ai_9684xtpa) revealed that an address associated with "insider whale" activity deposited 326 million USDC into a specific exchange within the last 20 minutes.

Recent insights from EyeOnChain (@0harekrishna0) indicate that a significant sum of 326 million USDC has been transferred to Binance's vaults. There have been no new trades or leverage activity, creating an air of silence followed by this notable movement.

Ethena is challenging the market dominance of USDC with its dual stablecoin strategy, featuring USDe and USDtb. While experiencing rapid growth, USDe's depegging on October 10 and regulatory pressures in the EU have raised concerns about potential risks.

The USDC Treasury has burned 71.81 million USDC on the Ethereum blockchain, as reported by WhaleAlert and noted by Jinse Finance. This amount is valued at around $71.7 million.

Ethena's unique dual-stablecoin strategy is quickly gaining traction in the market, creating speculation about its ability to compete with Circle's USDC dominance.

Shares of Coinbase Global Inc. experienced a significant increase on Friday following an upgrade from JPMorgan Chase, which emphasized the potential for monetization through Base and USDC.

Analysts at Santiment indicate that Ethena's ecosystem has experienced significant growth this year, and they believe this trend will continue. They also warn that Ethena's native stablecoin, USDe, poses a potential threat to established stablecoins like USDC and USDT.