USD Coin (USDC) Goes Live on Ethereum’s Optimism, Breaks Above $1 Billion on Solana
USD Coin (USDC), issued by digital payments heavyweight Circle, is the second-largest stablecoin pegged to the U.S. Dollar. In recent days, its accessibility and operability witnessed a massive increase.
Most powerful Ethereum scaling network, Optimism, welcomes USDC
According to the official announcement by Optimism PBC, the start-up behind Ethereum scaling solution Optimistic Ethereum, users of USD Coin (USDC) can transfer their tokens via the Layer 2 platform.
USD Coin (USDC) transactions, including those on Ethereum’s DEX Uniswap, will be much faster, more resource efficient and low cost.
This network leverages the benefits of optimistic rollups: it includes data from multiple transactions into a single one to reduce the transactional pressure on Ethereum’s mainnet.
USDC on Solana breaks above $1 billion in market cap
One day after Optimism integration, Circle CEO Jeremy Allaire announced another huge milestone in USD Coin’s adoption. With a new minting round, the aggregated market capitalization of USDC on Solana (SOL) exceeded $1 billion.
he market cap of Solana-based USDC is almost 3.5x larger than that of USDC’s major rival, Tether (USDT). As per the Tether Transparency dashboard, the USDT supply on Solana is $290 million in equivalent, while $64 million have been issued but not minted.
USD Coin (USDC) has released its Tron-based version. With almost $32 billion in circulating USDT, Tron (TRX) is a major stablecoin platform.
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