Citing the risk management framework, Circle ends USDC support on Tron (TRX). Meanwhile, in exciting use for Polkadot (DOT) holders, Coinbase listed Polkadot (DOT) on the exchange, while Algotech (ALGT) is on an impressive presale rally.
Tron (TRX) dumped by USDC stablecoin issuer
In a statement on February 21, Circle announced the discontinuation of support for USDC on the Tron (TRX) network. Moreover, the statement said that USDC will no longer be minted on TRON (TRX), with immediate effect. The transfer of USDC to other blockchains from Tron (TRX) will be permitted by Circle until February 2025.
Further, the company urged retail and non-circle users to transfer their USDC from Tron (TRX) to other blockchains supporting the stablecoin.
The company listed the risk management framework as a contributing factor to its decision. Additionally the decision aligns to keep USDC a trusted and transparent digital dollar. However, it is currently predicted that $300 million USDC is present on Tron (TRX).
The week has been bullish for Tron (TRX). Changing hands at $0.141, Tron (TRX) had an uptick of 2.86% in the past week. Moreover, in the past 24 hours, Tron (TRX) surged by 2.11%.
Polkadot (DOT) gets a new futures listing
In its latest update, Coinbase, the leading cryptocurrency exchange platform, took to Twitter to announce the launch of perpetual futures contracts. The list, consisting of three cryptocurrencies, included Polkadot (DOT).
Along with cryptocurrencies like Internet Computer (ICP) and NEAR Protocol (NEAR), Polkadot (DOT) received a new futures listing. The tweet from Coinbase stated that DOT-PERP, ICP-PERP, and NEAR-PERP are in full trading mode. Thus, the trading for these futures, including Polkadot (DOT), has commenced.
The crypto exchange includes leading cryptocurrencies such as Dogecoin (DOGE), Ripple (XRP), and more in its perpetual futures list.
Despite recent advancements, Polkadot (DOT) is bearish. In the past week, Polkadot (DOT) dropped by 1.13%. Further, in the past 24 hours, Polkadot (DOT) experienced a dip of 1.08%. Polkadot (DOT) is currently trading hands at $8.09.
Algotech (ALGT) gains massive whale money
Algotech (ALGT) has become the center of attention in the crypto market. The algorithmic trading platform has lately witnessed an influx of whale money, showing a promising future.
Algotech (ALGT) has been gaining traction due to its innovative features, contrary to manual trading. The project’s focus on using machine learning and AI to develop trading strategies has caught the attention of enthusiasts. With various trading strategies tailored to different market conditions, Algotech (ALGT) allows users to choose as per their preferences.
Further, Algotech (ALGT) tackles problems with traditional trading methods. These issues include subjective biases, inconsistency in execution, and more.
Moreover, Algotech (ALGT) addresses inherent challenges associated with traditional trading methods. By leveraging machine learning and AI, the platform minimizes subjective biases that can impact decision-making in manual trading. The consistency in execution is enhanced through automated processes, reducing the likelihood of human errors. Algotech (ALGT) stands out by offering a solution that adapts to various market conditions, providing users with a versatile array of trading strategies to choose from based on their specific preferences. The innovative features of Algotech (ALGT) have contributed to its increasing popularity among trading enthusiasts, positioning it as a promising option in the ever-evolving landscape of algorithmic trading.
The rise in popularity of Algotech (ALGT) shows a shift in market dynamics. More and more investors are looking to partake in the growing algorithmic trading market, which is expected to grow at a CAGR of 12.6%. At its current price of $0.4, Algotech’s (ALGT) first stage of presale is selling out rapidly.
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