Kaiko: USDC will benefit from the EUs new digital asset regulations and seize USDTs market share
Odaily2024/06/19 02:06
By:Odaily
Odaily News Circle Internet Financial Ltd.’s USDC could be the biggest beneficiary under new European digital asset guidelines set to take effect in July, according to Kaiko Research, a crypto analytics firm. USDC is expected to take
market share from larger rival
Tether Holdings Ltd.’s USDT, Anastasia Melachrinos, a Paris-based analyst at Kaiko, said on a conference call Tuesday. OKX already took steps to change its trading support for USDT in the European Union earlier this year, removing the ability to buy or sell other crypto assets with the stablecoin. European users can still deposit and withdraw, trade over-the-counter and convert it to euros; Kraken said last month it was “actively reviewing” plans that could include removing support for USDT on its EU exchange under the upcoming EU guidelines, MiCA. “Kraken and OKX will delist all EURO/USDT pairs,” Melachrinos said.
USDT/EURO pairs on Kraken average about $4.3 billion in daily trading volume, Kaiko data showed, surpassing the volume of all other crypto/EURO pairs. Average daily trading volume for USDC/EURO on Kraken is around $400 million. European regulators have been finalizing technical guidance for MiCA, which is expected to be fully implemented in early 2025. (Bloomberg)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Watch Out: There are Massive Token Unlocks on 23 Altcoins in the New Week – Here is the Day by Day, Hour by Hour List
The cryptocurrency market is preparing for a large amount of token unlocking in many altcoins in the new week. Here are the details.
Bitcoinsistemi•2025/01/26 21:44
Is Ethereum’s Slow Pace Hindering Progress? Paradigm Offers a New Approach
Cryptodnes•2025/01/26 18:33
Big DeFi Exchange Expands Its Reach with Moonshot Acquisition
Cryptodnes•2025/01/26 17:33
Bitcoin’s Steady Accumulation Could Propel It to New Heights, Analyst Predicts
Cryptodnes•2025/01/26 17:33
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$104,501.92
-0.57%
Ethereum
ETH
$3,298.62
-1.27%
XRP
XRP
$3.08
-1.76%
Tether USDt
USDT
$0.9998
-0.01%
Solana
SOL
$249.04
-3.72%
BNB
BNB
$679.66
-1.41%
USDC
USDC
$1.0000
-0.00%
Dogecoin
DOGE
$0.3444
-4.05%
Cardano
ADA
$0.9748
-1.07%
TRON
TRX
$0.2506
-1.22%
Bitget pre-market
Buy or sell coins before they are listed, including PLUME, J, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now