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Traders Shifting From USDT to USDC ! Here’s Why

stablecoin

The post Traders Shifting From USDT to USDC ! Here’s Why appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Glassnode, an on-chain data analytics platform, disclosed  today that USDC, the world’s second largest stable coin, is gaining traction as crypto investors prefer it over USDT. This may be seen in the total number of supplies added to the coin in the last month alone.

USDC had a market cap of $4.1 billion in January 2021, but it has since increased by nearly 1000 percent to $55.27 billion. According to Glassnode, total stablecoin redemptions have totaled $9.92 billion since the beginning of May 2022.

According to the data, USDT witnessed the greatest redemptions of -$13 billion from the beginning of May to today, followed by DAI with -$2 billion, owing to investors closing down leverage or liquidation. Meanwhile, the market capitalization of USDC has increased by $5 billion in less than two months.

The overall market capitalization of the top four stablecoins (USDT, USDC, BUSD, and DAI) has now surpassed Ethereum’s market capitalization by $3 billion, according to the data. As a result of these developments, USD stablecoins have become the account and quote asset’s unit.

Circle to launch new token

Another connected issue that may have aided USDC’s rise is the recent FUD surrounding USDT. USDC’s issuer Circle is likewise known for adhering to the law, unlike Tether, which has had a number of legal issues.

By the end of June, Circle, the company behind the dollar-pegged USDC, will launch a new cryptocurrency called the Euro Coin (EUROC). The new coin, like its dollar equivalent, USDC, will be backed by the single European Currency.

Euro Coin is a regulated, euro-backed stablecoin issued under the same full-reserve model and built on the same pillars of trust, transparency, and security that have made USDC one of the world’s most trusted digital currencies, said Jeremy Allaire.

Circle’s CEO and co-founder, Jeremy Allaire, stated that there is a demand for euro-pegged currencies, and that Circle would help create a safe and “interoperable value exchange worldwide.”

Error encountered during contract execution [Out of gas]?

i have this address 0xb5f82127b5067f1019abd362ba812c0ef8196717 as you can see i have 3 transaction failed with this error : Warning! Error encountered during contract execution [Out of gas]. I was trying to send from my ledger live to this contract address 0x6d477D2906ad181a4975ACfd40366a8808914073. I do search for similar error everybody talk about resending the transaction with higher::Listen

i have this address 0xb5f82127b5067f1019abd362ba812c0ef8196717 as you can see i have 3 transaction failed with this error :

Warning! Error encountered during contract execution [Out of gas].

Ethereum Transaction Failed/Cancelled

I was trying to send from my ledger live to this contract address 0x6d477D2906ad181a4975ACfd40366a8808914073.

I do search for similar error everybody talk about resending the transaction with higher fee with the same nonce but regarding to this Canceling or Replacing a Transaction After it’s Been Sent they say :

If you see a red ( ! ) symbol, or a “BAD INSTRUCTION” or “OUT OF GAS” error message, it means that the transaction was not successfully sent. You cannot cancel or replace this transaction. Instead, send a new transaction. If you received an “Out of Gas” error, you should double the gas limit you specified originally.

I try to resend the same transaction with the same sender, receiver and nonce with zero amount using metamask but nonce to low error appear.

My questions :

1 – Can I resend the transaction with higher gas limit (using the same nonce),knowing that i already have 3 failed transaction from nonce 0 to 2?if yes how, in this situation?

2 – What happened to the ETH? if the transaction is failed why i can’t see the amount in the wallet?

3 – It their any problem related to ledger live it self in this situation?

Thanks

Traders Shifting From USDT to USDC ! Here’s Why

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