USDC in the spotlight: latest news

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.

Circle Internet Financial has announced the launch of its Cross-Chain Transfer Protocol Version 2 (CCTP V2) in March 2025, which will facilitate the integration of USDC onto the XDC Network. This development is expected to streamline cross-chain transactions and enhance the use of digital dollars in corporate treasury operations.

Taiwanese singer and crypto investor Huang Licheng, known as Machi Big Brother, is actively re-entering the Ethereum market following a significant $13.7 million liquidation.

Compass Point has reduced its price target for Circle Internet Group (NYSE:CRCL) from $96.00 to $92.00, while still holding a Sell rating on the stock.

According to ChainCatcher News and hypurrscan data, a notable whale with a flawless win rate since October 11 has been placing long orders for both ETH and BTC on the Hyperliquid platform.

Smart Bridge, a subsidiary of the US-listed company VCI Global Limited, is set to launch a fiat-crypto platform that will be based on Ethereum and backed by gold.

A Bitcoin wallet that had been inactive for more than 14 years has been reactivated, now holding 4,000 BTC. This discovery was reported by Whale Alert, as noted by Jinse Finance.

Trust Wallet has introduced a perpetual contract feature that supports more than 100 markets and offers leverage of up to 100x.

The integration of stablecoin payments with QR code technology is transforming the fundamentals of payment systems. In recent years, there has been a growing interest in using stablecoins for everyday transactions, making digital payments more accessible and efficient.

David Sacks, the White House head of cryptocurrency and artificial intelligence, announced that it is feasible to achieve regulatory clarity in the industry this year through legislation focused on cryptocurrency market structure. He made this statement following a meeting with senators regarding the matter.

Crypto market maker B2C2 has introduced a stablecoin exchange platform named Penny, designed to facilitate cross-chain stablecoin swaps for institutional investors.

Aave Labs, the company behind the Aave lending ecosystem, has acquired San Francisco-based Stable Finance, marking its expansion into the consumer DeFi market.

XDC Ventures, the investment branch of the XDC Network, has announced its acquisition of Contour Network, which aims to enhance the blockchain platform for digitizing letters of credit in trade finance.

BingX, a prominent cryptocurrency exchange and Web3 AI company based in Panama, has launched a new campaign that features zero-fee trading for Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). Additionally, users will have the opportunity to earn daily rewards as part of this initiative.

The open interest in Bitcoin options has surged to $50 billion on Deribit, with the $100,000 put option gaining popularity among bearish investors, alongside higher strike call options.