USDC

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/circle-adjusts-usdc-redemption-fees-again" data-wpel-link="internal" rel="noopener noreferrer nofollow">Circle Adjusts USDC Redemption Fees Again</a><br></p>
<p style="text-align: justify">Circle, the provider of the stablecoin USDC, has announced an increase in redemption fees for the second time this year, impacting users who wish to process rapid transactions. As reported by Bloomberg, individuals attempting to redeem over $2 million daily will now face higher costs.</p>
<h2 style="text-align: justify" id="what-changes-were-made-to-the-fee-structure">What Changes Were Made to the Fee Structure?</h2>
<p style="text-align: justify">In February, Circle introduced a tiered fee system for redemptions. The standard rate for withdrawals surpassing $15 million was set at 0.1%, while standard redemptions are completed almost immediately. Basic redemptions, however, are subject to delays of up to two business days and require manual approval.</p>
<h2 style="text-align: justify" id="what-are-the-new-rates-for-redemptions">What Are the New Rates for Redemptions?</h2>
<p style="text-align: justify">With the recent changes, standard redemptions now incur fees of 0.03% for amounts between $2 million and $5 million and 0.06% for amounts from $5 million to $15 million. Concerns have been raised that these new fees could reduce the attractiveness of USDC in the trading market.</p>
<ul style="text-align: justify">
 <li>Circle earned $136 million in fees over the past month, ranking it among the top earners in on-chain transactions.</li>
 <li>In contrast, competitor <a href="https://en.bitcoinhaber.net/the-tides-of-crypto-are-traditional-banks-set-to-dominate-the-stablecoin-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> collected $400 million during the same timeframe.</li>
 <li>USDC’s market share has plummeted from 31% to 20%, while Tether’s share grew from 52% to 70%.</li>
</ul>
<p style="text-align: justify">These updated fees underscore the competitive pressures facing USDC as it operates in a crowded market. The increasing costs might prompt users to consider alternative stablecoin options, impacting USDC’s market position further.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/circle-adjusts-usdc-redemption-fees-again" data-wpel-link="internal" rel="noopener noreferrer nofollow">Circle Adjusts USDC Redemption Fees Again</a></h5>

Circle Adjusts USDC Redemption Fees Again

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