USDC

<p><strong>Circle</strong>, the stablecoin provider for <strong>USDC</strong>, has raised its <strong>withdrawal fees</strong> for the second time this year. According to Bloomberg, users looking to make expedited withdrawals over $2 million daily will face additional charges.</p> 
<h2 id="updated-fee-structure">Updated Fee Structure</h2> 
<p>The tiered withdrawal options introduced by Circle in February remain in place. Under the standard plan, a fee of 0.1% applies to withdrawals over $15 million. While standard withdrawals are processed nearly instantly, basic withdrawals can take up to two business days. Circle has registered all customers under the standard plan, with a manual approval process required for those opting into the basic plan.</p> 
<h2 id="new-fee-rates">New Fee Rates</h2> 
<p>The updated fees apply to standard withdrawals as follows: 0.03% for amounts between $2 million and $5 million, and 0.06% for amounts between $5 million and $15 million. Sources speaking to Bloomberg raised concerns that these added fees, introduced in September, could reduce <strong>USDC’s appeal</strong> in transactions.</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-6940" src="https://deythere.com/wp-content/uploads/2024/10/Circles-increased-USDC-withdrawal-fees-focusing-on-symbols-of-USDC-and-fee-escalation.-The-image-should-include-icons-like.webp" alt="" width="1792" height="1024" srcset="https://deythere.com/wp-content/uploads/2024/10/Circles-increased-USDC-withdrawal-fees-focusing-on-symbols-of-USDC-and-fee-escalation.-The-image-should-include-icons-like.webp 1792w, https://deythere.com/wp-content/uploads/2024/10/Circles-increased-USDC-withdrawal-fees-focusing-on-symbols-of-USDC-and-fee-escalation.-The-image-should-include-icons-like-300x171.webp 300w, https://deythere.com/wp-content/uploads/2024/10/Circles-increased-USDC-withdrawal-fees-focusing-on-symbols-of-USDC-and-fee-escalation.-The-image-should-include-icons-like-1024x585.webp 1024w, https://deythere.com/wp-content/uploads/2024/10/Circles-increased-USDC-withdrawal-fees-focusing-on-symbols-of-USDC-and-fee-escalation.-The-image-should-include-icons-like-768x439.webp 768w, https://deythere.com/wp-content/uploads/2024/10/Circles-increased-USDC-withdrawal-fees-focusing-on-symbols-of-USDC-and-fee-escalation.-The-image-should-include-icons-like-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"></p> 
<p>Circle recently reported earning $136 million in fee revenue over the past 30 days, ranking it among the highest-earning on-chain businesses. Rival <strong>Tether</strong> earned $400 million in the same period, applying a flat 0.1% fee on withdrawals over $100,000.</p> 
<h2 id="market-share-battle">Market Share Battle</h2> 
<p>USDC’s market share, which was at 31% in February, has now dropped to 20%. This decline correlates with traditional finance players entering the stablecoin market and an increase in alternative stablecoin options. Meanwhile, <strong>Tether (USDT)</strong> has grown its market share from 52% to 70%. Circle’s new fees highlight the challenges USDC faces in a competitive market. As fees rise, some users may be prompted to explore alternative stablecoins.</p> 
<p>For more insights on the latest trends in stablecoin markets, visit Dey There for updates on how providers like Circle and Tether adapt to market shifts.</p> 
<p>Circle, USDC, withdrawal fees, Tether, stablecoin market</p>

New Fees for Users! Circle Increases USDC Withdrawal Costs

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