Topic: USDC, USDP & TUSD will be removed on Binance exchange - page 2. (Read 253 times)
binance does not like competition, it can be seen that other stablecoins bothers it, they hinder busdt's growth, however it does not seem right to remove competition from the market, there should be free choice
Bold move for sure, but if they manage to pull it off then it could offer some major growth implications
In the long term, the irregularity and obscurity of USDT as a viable asset could force itself to be removed entirely from the exchange. When investors turn away from it, they will turn to USDC and TUSD. USDC is faster and cheaper than TUSD but less decentralized and offers fewer privacy features. It will be interesting to see what emerges victorious in this case but there probably won't be one unless another stablecoin is launched in the future and I don't think it's new to see exchanges deleting coins although it's a bit surprising that Binance did this immediately after listing them.
There's also a thread made on the Trading Discussion about this. (https://bitcointalksearch.org/topic/binance-to-remove-usdc-as-a-tradable-asset-5412502)
I don't think it's a problem as long as there are Usdt and Busd with different blockchain options when making a deposit. because it will be too difficult to have many stable coins, especially since many of the coins that are said to be stable have lost their value.
It's not really a problem. Binance is just removing the other stable coins where there's high liquidity in their platform. As for Tether, it's the most known so they can spare it. While the others, they're a big competitor for BUSD.
I don't think it's a problem as long as there are Usdt and Busd with different blockchain options when making a deposit. because it will be too difficult to have many stable coins, especially since many of the coins that are said to be stable have lost their value.
I am on the Binance side on this, I don't understand why we need many stablecoins. I never consider stable coin is an investment, so I don't really pick which one should I use. The only reason why I have stable coin is just to prepare for an entry on market or just to send it to other people so its more of their option rather than mine.
Stable coins was never an investment to begin with, why would anyone sees it as an investment? Your definition of preparing for an entry on the market shows how useful stable coins are, nothing wrong with having more than one stable coins. 
looks like binance does want to get bigger with this, seeing its rivals as stable coins gain a place on their binance like feeling rivaled with other stable coins. but i have no problem with it, my flagship coin is only usdt and busd and it's still on binance. They must have prepared the best thing to stabilize the coin.
I am on the Binance side on this, I don't understand why we need many stablecoins. I never consider stable coin is an investment, so I don't really pick which one should I use. The only reason why I have stable coin is just to prepare for an entry on market or just to send it to other people so its more of their option rather than mine.
Source: https://techcrunch.com/2022/09/05/binance-issuer-of-stablecoin-busd-to-discontinue-support-for-usdc-usdp-and-tusd/
Okay so since it's about competition, we only have until September 29 to see USDC, USDP and TUSD on the Binance exchange. If we don't convert them on or after Sept 29, they're automatically gonna convert them to BUSD.
Anyways, I still have USDC on Polygon mainnet, Solana, etc., in my non-custodial wallets so after September 29 I need to convert them to USDT before depositing.
Any thoughts, reactions or opinions about this one guys? Would like to hear more from the community. Thanks in advance.
Okay so since it's about competition, we only have until September 29 to see USDC, USDP and TUSD on the Binance exchange. If we don't convert them on or after Sept 29, they're automatically gonna convert them to BUSD.
Anyways, I still have USDC on Polygon mainnet, Solana, etc., in my non-custodial wallets so after September 29 I need to convert them to USDT before depositing.
Any thoughts, reactions or opinions about this one guys? Would like to hear more from the community. Thanks in advance.
Well all stable coins pegged to the us dollar are under real pressure.
why is this?
all us citizens are allowed to buy $10000 worth of i bonds every year.
330,000,000 x 10,000 is a big pool of possible cash.
3,300,000,000,000 this is 3.3 trillion pot of cash possible every year .
normally I bonds were paying low interest. 1 or 2 or 3%. so while they are perfectly stable and pegged to the usd rates sucked.
but now buy
1500 get 9.62% for six months say april 1 to oct 1
1500 get 9.62% for six months say may 1 to nov 1
so on and so forth this means a ton of money leaves crypto and goes to 9.62% coins
especially stable coins which are known to crash and burn and don’t pay a lot more than 10% in any case.
the few that did crashed out badly.
So I think binance knows many stable coins are in a lot of trouble 😈 so I hope to see more coins pegged to the USD suffer due to these high interest I bonds.
Source: https://techcrunch.com/2022/09/05/binance-issuer-of-stablecoin-busd-to-discontinue-support-for-usdc-usdp-and-tusd/
Okay so since it's about competition, we only have until September 29 to see USDC, USDP and TUSD on the Binance exchange. If we don't convert them on or after Sept 29, they're automatically gonna convert them to BUSD.
Anyways, I still have USDC on Polygon mainnet, Solana, etc., in my non-custodial wallets so after September 29 I need to convert them to USDT before depositing.
Any thoughts, reactions or opinions about this one guys? Would like to hear more from the community. Thanks in advance.
Okay so since it's about competition, we only have until September 29 to see USDC, USDP and TUSD on the Binance exchange. If we don't convert them on or after Sept 29, they're automatically gonna convert them to BUSD.
Anyways, I still have USDC on Polygon mainnet, Solana, etc., in my non-custodial wallets so after September 29 I need to convert them to USDT before depositing.
Any thoughts, reactions or opinions about this one guys? Would like to hear more from the community. Thanks in advance.
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