USDC flips Tether on the Ethereum network

[_act_]

Not on other network but on ethereum network, USDC which is also a stable coin, its marketcap surpass that of USDT on ethereum blockchain.

https://news.marketcap.com/usdc-flips-tether-on-the-ethereum-network/

On Tron network, I have not noticed if USDC is on Tron network or other chain which can help people to adopt it more. I want to ask some questions. Tron blockchain accounts for over 40% of USDT and this is because the transaction fee is low.

Is USDC on Tron blockchain?
What other blockchain that USDC can be used?

USDT is a centralized coin, your USDT can be freezed by Tether company. This is the reason this type of coin should not be used. Recently I read that some other stable coins are coming up, example is the TerraUSD (UST) which now ranked 19th by marketcap.

Let us all be careful of centralized coins.

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[Gorosden]

Its just the beginning, UST from terra Luna will beat these two stable coins but all the same they are centralised stable coins, I believe in DAI which is decentralized more than others but I just don't know why it's not getting good attention

[jossiel]

Is USDC on Tron blockchain?
What other blockchain that USDC can be used?

We can see the other networks where USDC is operating through its website.

https://www.circle.com/en/usdc

I'm surprised that it's not just in Ethereum and Tron but there others like Sol, Algo, Stellar and many more.

USDT is a centralized coin, your USDT can be freezed by Tether company. This is the reason this type of coin should not be used. Recently I read that some other stable coins are coming up, example is the TerraUSD (UST) which now ranked 19th by marketcap.

Let us all be careful of centralized coins.

If it's about stable coin, there's DAI that's known to be a decentralized stable coin.

[cryptoaddictchie]

What other blockchain that USDC can be used?

Aside from you mentioned solana, matic, fantomand avax I think supported the native usdc already on their own platform. Cause I am using brigdge from fantom to avax and they do have usdc. Probably many more supported usdc and its keep increasing as many blockchain adopted aside from tether.

[hugeblack]

USDC is central coin and as other they can freeze your funds on your account so that that there is no difference between USDT and USDC or BUSD.
USDC is better than USDT because they backed by more assets than USDT (they are claiming that have less than 4% of total market cap as assets)


There is another problem, which is the high fees on the Ethereum blockchain, so TORN is still in the first place, but over time we will find that there are better alternatives.
For example, the Polygon network will compete with TORN, which will die if people do not use a USDT on it.

[virasog]

Its just the beginning, UST from terra Luna will beat these two stable coins but all the same they are centralised stable coins, I believe in DAI which is decentralized more than others but I just don't know why it's not getting good attention

Does this means that it is not safe to keep our stable coins in USDT ?
It will be greatful if anyone can tell the real reason for this?
Why people are moving funds out of USDT ?  Is there any expected news or something like that ?

[Jackl87]

Not on other network but on ethereum network, USDC which is also a stable coin, its marketcap surpass that of USDT on ethereum blockchain.

https://news.marketcap.com/usdc-flips-tether-on-the-ethereum-network/

That is not that big of a surprise to me to be honest, because there are rumors around USDT for a few years now. It basically all began once the company behind USDT changed their wording regarding the backing of every USDT minted back in 2019. First they always said they have enough money to back every USDT to "we have enough reserves to back every USDT minted". The problem is no one can verify if those reserves really exist and in what form they exist. USDC on the other hand is created by coinbase which is an US based company and therefore audited regularly. So we can be pretty sure that every USDC is still backed by a real USD.

[cvasy]

Its just the beginning, UST from terra Luna will beat these two stable coins but all the same they are centralised stable coins, I believe in DAI which is decentralized more than others but I just don't know why it's not getting good attention

It's not that DAI doesn't get attention but because it doesn't have as many pairs with other coins that DAI seems invisible, but for USDT there are already so many pairs of coins available on all exchanges that USDT is more visible than other stablecoins.

[XUR_TIP]

I prefer DAI but many exchanges don't support its pair which makes it a little less option over USDT and USDC, another easier one for me is BUSD since I use binance exchange more than every other exchanges, it seems better for stable coins to be centralised since they are doing the work of FIAT in digital form