• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan

Robinhood Lists USDC, It’s First Stablecoin

Taylor Scott by Taylor Scott
5 months ago
in Cryptocurrency news, Stablecoin
Reading Time: 3 mins read
Advertisement

Robinhood hasn’t been shy about it’s desire to be a player in crypto. The platform has had a few years of ups and downs as it’s navigated it’s crypto offerings. This week, however, the platform secured a win on the crypto front by listing it’s first stablecoin, USDC.

What We Know

The news first came straight from the horses mouth, as Robinhood’s Twitter posted a tweet this morning sharing the news. The token is Robinhood’s 17th supported crypto, and third largest in market cap behind blue chips Bitcoin and Ethereum. It’s the latest token addition since adding Cardano (ADA) at the beginning of the month. It is a growing list of crypto tokens for Robinhood, who also added Polygon in recent weeks.

Additionally, the move shows more bolstering growth for Circle’s USDC, which has sought out the number one spot over Tether’s USDT – the longtime dominant stablecoin. The narrative has been driven by an ideology that Tether’s account management is less transparent and straightforward than USDCs.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Robinhood (HOOD) has had a challenging year on the NASDAQ. | Source: NASDAQ: HOOD on TradingView.com
Related Reading: Ripple (XRP) Adds Over 20% In A Week While Others Plunge Heavily

The Stablecoin Battle

In recent months, the good folks over at Arcane Research put together future growth projections based on USDC’s momentum this year, which shows USDC overtaking USDT’s number one spot as early as mid-October. The projected gap for today’s number is likely a bit closer than what we’ve seen in reality, however, signaling that a USDC takeover for the top spot could take another 4-6 months. That’s been exacerbated by USDC whale holdings percentage hitting a two-year low in recent weeks.

As our team cited, that movement has been driven by broader market movement, as well as U.S. sanctions on Tornado Cash. Exchange deposits have been substantially low for USDC as well, but mean transaction volumes are still flying high in recent months. Tornado Cash and other external factors, such as threats of U.S. legislation on stablecoins and other crypto, have led to more negative sentiment around stables than positive.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Robinhood’s adoption of USDC could help spur the growth in catching up with USDT’s lead. However, it remains to be seen how the more casual investor that typically frequents Robinhood will fare with a stablecoin asset, particularly one that doesn’t generate any interest.
Related Reading: ApeCoin (APE) Sees Higher Prices Even In Bearish Market Conditions
Featured image from Pixabay, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.
Tags: USDC
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Taylor Scott

Taylor Scott

Taylor specializes in crypto activity across sports and entertainment. With nearly a decade of engagement with cryptocurrency, Taylor has spent several years working in talent representation with musicians, comedians, and speakers, and achieved a Sports Business MBA in 2020.

Related Posts

Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

2 hours ago
Dogecoin DOGE

63% Of Dogecoin Holders Are Making Money

5 hours ago
Reddit MOON Arbitrum Nova

Reddit Deprecates The MOON Bridge To Arbitrum Nova, Users To Lose 4.77 Million Tokens

5 hours ago
Binance Teams Up With Hong Kong Police To Fight Crypto Crime

Binance Teams Up With Hong Kong Police To Fight Crypto Crime

8 hours ago
crypto

Australia Gives Its Crypto Watchdogs More Teeth To Fight Scammers

9 hours ago
Bitcoin

Don’t Get Too Greedy On Bitcoin, Analyst Suggests, Here’s Why

21 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom And Decentraland Explode As Big Eyes Coin Raises $21M In Presale

February 4, 2023

The Metaverse Represents The Future of Web3: Decentraland (MANA), The Sandbox (SAND), and Snowfall Protocol (SNW) Lead the Way

February 4, 2023

Snowfall Protocol (SNW), Shiba Inu (SHIB), and Cronos (CRO) – The Best Cheap Cryptos to Buy Now

February 4, 2023

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.