Impact

USDC

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/circle-raises-usdc-withdrawal-fees-again" data-wpel-link="internal" rel="noopener noreferrer nofollow">Circle Raises USDC Withdrawal Fees Again</a><br></p>
<p style="text-align: justify">Circle, the issuer of the USDC stablecoin, has announced an increase in withdrawal fees for the second time this year, as reported by Bloomberg. Users seeking to expedite their transactions will incur additional costs, particularly for amounts over $2 million each day.</p>
<h2 style="text-align: justify" id="what-changes-have-been-made-to-the-fee-structure">What Changes Have Been Made to the Fee Structure?</h2>
<p style="text-align: justify">The company has retained the tiered fee structure introduced earlier this year. For transactions exceeding $15 million, a standard withdrawal fee of 0.1% will apply, while expedited withdrawals from $2 million to $5 million will incur a fee of 0.03% and those from $5 million to $15 million will face a 0.06% charge.</p>
<h2 style="text-align: justify" id="how-will-this-impact-usdc-s-market-position">How Will This Impact USDC’s Market Position?</h2>
<p style="text-align: justify">Concerns have been raised that these newly implemented fees might impact the market appeal of USDC. In the past month alone, Circle generated approximately $136 million in fee revenue, positioning itself as one of the leading entities in the on-chain space. Conversely, competitor <a href="https://en.bitcoinhaber.net/tether-takes-an-active-role-in-combating-criminal-activities" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> reported $400 million in the same timeframe, with a fixed fee structure for larger withdrawals.</p>
<ul>
 <li>USDC’s market share has dropped from 31% in February to 20% currently.</li>
 <li>Tether’s market share, in contrast, has surged from 52% to 70% during this period.</li>
 <li>The ongoing rise in withdrawal fees may push customers toward alternative stablecoin options.</li>
</ul>
<p style="text-align: justify">The recent fee adjustments spotlight the obstacles USDC faces in a fiercely competitive marketplace, prompting users to reconsider their stablecoin choices due to increased costs.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/circle-raises-usdc-withdrawal-fees-again" data-wpel-link="internal" rel="noopener noreferrer nofollow">Circle Raises USDC Withdrawal Fees Again</a></h5>

Circle Raises USDC Withdrawal Fees Again

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