April

USDC

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-converts-altcoin-balances-to-usdc/" data-wpel-link="internal">Binance Converts Altcoin Balances to USDC</a> 
The <a href="https://en.coin-turk.com/sec-chairman-gensler-intensifies-his-stance-on-cryptocurrencies/" data-wpel-link="internal">cryptocurrency</a> exchange <a href="https://en.coin-turk.com/binance-adds-gaming-focused-ronin-blockchains-native-token-ronin/" data-wpel-link="internal">Binance</a> announced the conversion of certain <a href="https://en.coin-turk.com/how-to-buy-huobi-token/" data-wpel-link="internal">altcoin</a> balances into USD Coin (USDC). This process took place between April 21, 2024, and October 15, 2024, and involved the transformation of various altcoins held in user wallets. Binance clarified that the conversion was executed based on the current balance in user wallets at the time of the transaction. 
<h2 style="text-align: justify" id="strong-which-altcoins-were-converted-strong">Which Altcoins Were Converted?</h2> 
Binance reported that during this period, altcoins including MDA, HNT, MITH, YFII, MIR, VRT, TCT, REP, EZ, SWRV, BOBA, SRM, RDN, CBK, and ONX were converted into the second-largest stablecoin, USDC. For instance, the YFII altcoin converted to 323.95 USDC, while REP equated to 1.0023 USDC. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-398966" src="https://coin-turk.com/wp-content/uploads/2024/10/Binance-Altcoin-4.jpg" alt="" width="304" height="718"> 
Other altcoins underwent smaller conversions. These transactions were based on a snapshot taken at 03:00 UTC on April 21, 2024, from Binance wallets. 
<h2 style="text-align: justify" id="strong-how-to-check-usdc-balances-after-conversion-strong">How to Check USDC Balances After Conversion?</h2> 
The converted altcoins were directly reflected in users’ Binance accounts. The cryptocurrency exchange advised users to verify their USDC balances through the “Distribution” tab in their wallets. Additionally, Binance users were reminded that they could check these distributions under “Wallet &gt; Transaction History &gt; Distribution.” 
Binance’s conversion initiative aims to enhance the liquidity of low-volume altcoins by converting them into USDC. This move has been positively received by users of the cryptocurrency exchange. 
The post <a href="https://en.coin-turk.com/binance-converts-altcoin-balances-to-usdc/" data-wpel-link="internal">Binance Converts Altcoin Balances to USDC</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Binance Converts Altcoin Balances to USDC

Table of Contents

COINTURK NEWS

Other articles published on Oct 21, 2024

Goodbye Biden Memecoin to Explode 19,000% Ahead of First Exchange Listing, While Shiba Inu and BO...

ZNS Connect Partners with The Plume Network to Offer Blockchain-Based ID

Simon’s CAT Surges 50% After Binance Launches Perpetual Contracts

Lumoz: Pioneering Blockchain Scalability with OP Stack and ZK Innovation

Monochrome Asset Management to Launch Australia’s First Ethereum Spot ETF (IETH) on Cboe

Paxos Launches Yield Bearing Wrapped $USDL on Injective

Join our free newsletter for daily crypto updates!