The BTC/USDC trading pair in Poloniex will have no fees during December 2018. USD Coin (USDC) is the stablecoin created by Circle in order to provide stability to the market. With the intention of improving the user experience on the crypto trading platform Poloniex, the company decided to cut trading fees until 2019. The information was released a few days ago by Circle in a blog post.
BTC/USDC Trading Pairs and no Fees
Poloniex informed that they are trying to make the customer experience better by waiving fees on USD Coin trades. The company wrote that the last month they were able to save users around $500,000 in trading fees.
Users that trade BTC/USDC will not pay trading fees during December in the Poloniex exchange. This is also very good to increase USDC adoption around the world and among traders.
The USD Coin is one of the several stablecoins that have been launched to the market in recent times. Tether (USDT), the largest stablecoin in terms of market capitalization experienced different controversies during the past months and year.
According to a research conducted by a University of Texas professor, Tether was used in the past to stabilize and manipulate Bitcoin prices. John Griffin and Amin Shams wrote a paper showing this relationship between USDT and Bitcoin.
Other stablecoins in the market are TrueUSD (TUSD), Paxos Standard (PAX) or Gemini USD (GUSD). Each of them has specific features and characteristics to attract investors and traders. However, this growing trend of new stablecoins shows that the crypto market is searching for greater stability in prices.
The blog post released by Circle reads as follows:
“Since launching in September, the USDC stablecoin has been adopted by more than 50 exchanges, protocols, platforms, applications and wallets, and trading volume has quickly surpassed 130 million.”
It is possible to acquire this virtual currency with Circle or using Coinbase, one of the largest crypto platforms in the market. USDC has a market capitalization of $178 million and it is the 32nd largest virtual currency in the market. During the last 24 hours, it has moved more than $10 million dollars’ volume.
