The native USDC has over $850 million in circulation
Avalanche announced that its native USDC stablecoin has been listed by Coinbase, one of the world’s largest crypto exchanges, allowing operators and institutions to accelerate their fiat-to-cryptocurrency conversion experience on Web 3.0. The tweet reads like this:
“Native $USDC on Avalanche is now integrated on @Coinbase! Coinbase’s over 108 million users will now have the fastest path from cash to DeFi with Avalanche $USDC.”
Avalanche’s native USDC has more than $850 million in circulation and close to 100 million users of the exchange will have access to decentralized finance (DeFi) such as Aave, Curve, BENQI, among others.
The native USDC can be traded or bought in more than 100 countries through Coinbase, which processes more than $1.2 billion in transactions, while the stablecoin is the second largest in Web 3.0, with its circulating supply of $43 billion.
Ava Labs Expands Despite Bear Market
According to Ava Labs, users will now be able to transfer cash to USDC and vice versa, without intermediaries, which represents great advantages for developers and users. Meanwhile, there are two assets for stablecoin exposure: USDC and USDC.e., the latter is an asset sent by Avalanche Bridge and the former is issued directly by Circle.
Despite the bear market, Avalanche continues to expand. At the end of November, Avalanche reported its new milestone: reaching 450 million transactions, and explained that the level of transactions was around 28 million. In this realm, the Avalanche Blockchain increased by 1,507%.
According to Beincrypto, the Avalanche network has ranked sixth among the Blockchains with the highest Total Value Locked (TVL). This, when crypto assets valued at approximately 823 million dollars were found blocked.
End of Bear Market in 2023? What’s Next for Avalanche?
Recently, Bloomberg Senior Commodity Strategist and Analyst Mike McGlone recently indicated that the winter-shaking cryptocurrencies may be coming to an end and that the decline seen so far is not only attributable to digital currencies since it also shakes other important sectors of the global economy.
Ava Labs founder and CEO Emin Gün Sirer assures his stakeholders that FTX impacts very little on companies and projects operating in the Avalanche ecosystem. The company had an account at FTX with a very small amount of coins. That’s a big relief for Avalanche but not the same for others with larger deposits.
Following the FTX crash in early November, AVAX fell 10% and has yet to recover. However, the coin should recover as the industry recovers from the bear market.
Cryptopolitan’s prediction of AVAX Coin price for 2023 is a high of $25.15; in five years, a maximum price of $156.82 could be reached, and within 10 years, AVAX could be trading at a maximum price of $500.15.
By Audy Castaneda
