USD Coin

USD Coin ($USDC) trades flat at $1.00 with a market capitalization of $74.1 billion, holding rank #6 [PRICE].

Operational changes and decentralized finance bottlenecks define the stablecoin's ecosystem activity. Circle plans to lower legacy cross-chain transfer limits on Oct. 31 ahead of a scheduled smart contract pause on Dec. 1, according to Circle to Reduce Legacy USDC Cross-Chain Transfer Limits Starting Oct. 31 [9]. Concurrently, stablecoin issuers froze roughly $2.7 billion onchain following a $6.36 billion Binance drain attributed to North Korean hackers [4, 6].

In DeFi, Jupiter Lend Reports Liquidity Crunch Delaying USDC Withdrawals after protocol figures revealed about 3.35 USDC remaining in immediate reserves against 418.5 million USDC in Earn deposits [5]. Meanwhile, Tydro Restores Borrowing While Cutting USDC Cap to 51.6 Million Tokens, reducing borrowing capacity by 31.2% [3]. On Ethereum, onchain tracking recorded an $88.4 million USDC withdrawal from Kraken Hot Wallet 4 to an unlabelled wallet [7].