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CATEGORY: ctp


Circle Speeds Up USDC Transfers with CCTP V2 Upgrade

Author: Nakamura Haruto
Indonesia
Mar 12, 2025 04:45

Circle Speeds Up USDC Transfers with CCTP V2 Upgrade

Circle has announced a major upgrade to its Cross-Chain Transfer Protocol (CCTP), introducing version 2 (V2) with enhanced features.

The post Circle Speeds Up USDC Transfers with CCTP V2 Upgrade appeared first on Kanalcoin.

Apr 28, 2023 12:05

Avalanche Remains Under Pressure Despite Circle’s CCTP Effort

The native currency of Avalanche, AVAX, remains under pressure despite Circle’s effort to launch a facility that will enable the direct transfer of USDC between Ethereum and Avalanche blockchains.  Avalanche (AVAX) Is Down 18% From April 2023 Peaks Avalanche is a smart contracting platform with sub-second transaction finality and a rival of Ethereum. However, considering the first-mover advantage of Ethereum and the activity level on the pioneer smart contracting platform, Avalanche lags even though it offers high scalability translating to relatively low trading fees. Despite the launch of the Cross-Chain Transfer Protocol (CCTP) by Circle, the team behind USDC, a stablecoin; AVAX remains under trading range and has been unable to move higher, reversing recent losses. Related Reading: Avalanche Struggles Under $18 – More Losses Seem Likely When writing on April 27, AVAX is down 18% from April 2023 highs of around $20 and down roughly 10% in the last trading week, according to CoinMarketCap data. Although the market uptrend of April 26 temporarily forced AVAX higher, buyers on April 27 didn’t follow through. AVAX remains below the local resistance at $18 but above last week’s support at around $16.  However, from a broader perspective, AVAX is up 25% from March 2023 lows and has gained 65% from December 2022 lows. The impressive performance was a huge boost for AVAX, a coin that plunged 88% from November 2021 peaks when it was changing hands at around $145.  Based on the current AVAX formation, it is yet to be seen whether fundamental events will trigger demand and push the coin above $20, reversing this week’s losses.  Circle Launches Cross-Chain Transfer Protocol For USDC Transfer The decision by Circle to develop and launch a mainnet protocol for bidirectional cross-chain transfers between Ethereum and Avalanche will be convenient for users. It could also boost decentralized finance (DeFi) activities in Avalanche since users don’t have to use a third party, effectively eradicating the need for bridges and helping consolidate the web3 ecosystem. This would also have a significant effect on general liquidity on the Avalanche blockchain. Avalanche is suited for the development of decentralized finance (DeFi) dapps and as of April 27, the blockchain managed over $798 million as measured by the total value locked (TVL), according to DeFiLlama. Aave, a lending protocol available in, among other chains, Ethereum, is the largest DeFi dapp by TVL, managing $262 million. Besides liquidity, considering the mega hacks of 2022, for example, the Ronin and BNB Chain Bridge hacks, the Cross-Chain Transfer Protocol (CCTP) also boosts security for users and DeFi protocols. Related Reading: Will AVAX Price Get A Lift From Avalanche NFTs? Let’s Examine The Metrics Circle said several firms, including MetaMask, Celer, and Wormhole, have pledged to use the CCTP. Feature Image From Canva, Chart From TradingView

Dec 18, 2024 02:15

Wormhole Enhances Cross-Chain USDC Transfers with Circle's Protocol


Wormhole extends support for Circle's Cross-Chain Transfer Protocol, enabling seamless USDC transfers across major blockchains with enhanced liquidity and developer integration. (Read More)

 Geminis exit from Canada: Whats driving crypto exchanges out?

Author: Cointelegraph by Helen Partz
United States
Oct 02, 2024 12:00

Geminis exit from Canada: Whats driving crypto exchanges out?

Geminis exit came just a few days after the Canadian Securities Administrators released an update to crypto trading firms about stablecoins.

Jan 31, 2025 02:30

Aptos Integrates USDC: No More Bridging, Full Stability Ahead

Circle has officially launched USDC on the Aptos mainnet, marking a significant milestone for the blockchains ecosystem. This move enables developers and users to access USDC directly without relying on cross-chain bridges, simplifying transactions and reducing security risks. The integration will make the network even more powerful in its role as a speedy and secure […]

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