There are multiple stablecoins in the crypto market and usdt is the one that is on top in terms of market cap. After USD the next coin which is stablecoin and it stands on the second rank is called USDC. This stablecoin is managed by the complete named I circle and now this company has announced that they are going to stop the support for the USDC coin on the TRON network. They have announced that the transition will continue to happen for the next year and the support will continue for this one year.
They will not be minting any new coins on the tron network but the support will continue for existing coins for the next year. Although they have highlighted that it is because of the safety issues but seems like there is another reason that has not been shared by the company. Earlier we have also seen how Binance has stopped minting their coin busd because of regulations issues. Such things happen in this market and we need to take the corrective action on time so that we do not lose the money.
If you are holding usdc on Tron Network then you need to pay attention to this news however there is enough time in which you can take action on whatever is required. Its good that they have planned it in a way that there will be no panic situation for the holders and the transition period is for one year. Maybe this can be another regulation issue like BUSD we have seen in the past. US DC is not going anywhere and if this change is just for the Tron network however it was good that on Tron we can get the transaction done at a minimal cost.
Once again if you are a holder of the USDC coin then you need to plan your things accordingly and make sure that you do not lose any funds because that's not the right way and the purpose of performing the community is to make them aware of this upcoming change.
Thank you so much for stopping by and if you like my article then please vote and share your thoughts in the comments section.
10% beneficiary to Tron-fan-club