Binance, the third-largest stablecoin in the world, announced on Monday that it would convert customer holdings into three competing stablecoins, USD Coin (USDC), Pax Dollar (USDP), and True USD (TUSD), into its stablecoin (BUSD) on September 29. The action is to “enhance liquidity and capital-efficiency for users.” #Binance Auto-Invest allows users to utilise Dollar-Cost Averaging to help grow their portfolio, and earn additional crypto rewards at the same time. In our latest update, we made it easier for you to start DCA. Check out how ⤵️ — Binance (@binance) September 6, 2022 USDC/USDT Pair The USDC/USDT pair on Binance experienced the 11th greatest volume over the past 24 hours. USDC is the second-largest stablecoin in terms of the total supply. The largest cryptocurrency exchange in the world announced that it would discontinue spot, future, and margin trading with USDC, USDP, and TUSD pairs as a result of the action. The blog post says, “This will not affect users’ choice of withdrawal: Users will continue to be able to withdraw funds in USDC, USDP and TUSD at a 1:1 ratio to their BUSD-denominated account balance.” Binance to Pause Three Stablecoins Trading Additionally, Binance will stop trading the three stablecoins against the US dollar, Tether (USDT), and other significant cryptocurrencies like Bitcoin and Ether. The stablecoin-to-stablecoin groups and stablecoin-to-crypto pairs will end on September 26 and 29, respe...
