🌙 Circle Moves USDC to Cosmos

Circle has moved its cross-chain transfer protocol (CCTP) to mainnet on Noble, allowing USDC to be natively minted within Cosmos’ inter-blockchain communication protocol (IBC).

Author

Mike Gavela
November 28, 2023

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Crypto Roundup - Nov 28

Circle has shifted its USDC offering to Cosmos' mainnet to enhance USDC's utility and address its market decline. The NEAR Protocol has surpassed Bitcoin and Ethereum in daily transactions and active addresses, thanks to apps like KAIKANOW and SWEATCOIN. Despite this, NEAR's token value remains behind BTC and ETH. The SEC is seeking public input on spot Bitcoin ETF applications from Franklin Templeton and Hashdex, indicating potential approvals by early 2024. This development has sparked optimism in the cryptocurrency market, reflecting a significant shift in regulatory engagement and market dynamics.

Top Stories:

  • Circle Moves USDC to Cosmos: Circle has transferred its USDC offering to Cosmos' mainnet, aiming to enhance the utility of USDC and possibly reverse its market capitalization slump. The approach contrasts token bridging, focusing instead on direct asset transfer​​​​.

  • NEAR Protocol Surpasses Bitcoin and Ethereum: NEAR Protocol has exceeded Bitcoin and Ethereum in key network metrics like daily transactions and active addresses, driven by applications like KAIKANOW and SWEATCOIN. However, NEAR's token performance trails behind BTC and ETH​​​​​​.

  • SEC Opens Comments on Bitcoin ETFs: The SEC is soliciting public comments on spot Bitcoin ETF proposals from Franklin Templeton and Hashdex. This move, seen as a positive sign by crypto enthusiasts, could lead to potential approvals by early 2024, impacting the market significantly​​​​.

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TOP STORIES

Circle moves native USDC offering to Cosmos mainnet

Circle has moved its cross-chain transfer protocol to mainnet on Noble, allowing USDC to be natively minted within Cosmos’ IBC.

blockworks.co/news/circle-moves-usdc-to-cosmos

NEAR Protocol Overtakes Ethereum and Bitcoin in Key Activity Metrics - The Defiant

Activity on NEAR has spiked since September, overtaking Bitcoin and Ethereum, both in terms of daily transactions and active addresses.

thedefiant.io/near-protocol-overtakes-ethereum-and-bitcoin-in-key-activity-metrics

SEC Opens Public Comments On Franklin Templeton and Hashdex Spot Bitcoin ETFs - The Defiant

Analysts are again tipping that the first U.S. spot Bitcoin ETFs could receive approval in early January in response to new SEC filings.

thedefiant.io/sec-opens-public-comments-on-franklin-templeton-and-hashdex-spot-bitcoin-etfs

FUNDRAISES

OTHER HEADLINES

Chainlink Launches Upgraded Staking v0.2 On Ethereum - The Defiant

The migration phase for existing LINK stakers starts today and runs until December 7.

thedefiant.io/chainlink-launches-upgraded-staking-v0-2-on-ethereum

Bitcoin Remains on Track for $100K by Year-End 2024: Standard Chartered

An earlier-than-expected spot bitcoin ETF in the U.S. could be the key catalyst, said the bank.

www.coindesk.com/markets/2023/11/28/bitcoin-remains-on-track-for-100k-by-year-end-2024-standard-chartered

Pro traders ‘paying handsomely’ for Bitcoin bets send volume to two-year high

Traders anticipate spot Bitcoin ETF approval, sending Bitcoin bets on the CME higher.

www.dlnews.com/articles/snapshot/cme-bitcoin-futures-volume-hits-2-year-high-on-etf-optimism

CME-Listed Bitcoin, Ether Futures Flash a Rare Bullish Signal

The rare signal indicates that institutions have long exposure but not via spot, one observer said.

www.coindesk.com/markets/2023/11/28/cme-listed-bitcoin-ether-futures-flash-a-rare-bullish-signal

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