Sui, a Layer 1 blockchain created by the team behind Meta's Diem blockchain initiative, has surpassed $100 million in bridged USDC just seven months after its launch. This achievement solidifies Sui's position as one of the top DeFi protocols globally and follows its recent milestone of surpassing $175 million in Total Value Locked (TVL). The network's success can be attributed to its decentralized ecosystem and independent builders, with seven projects standing at over $10 million in TVL and 11 projects exceeding the $2 million mark. Sui has also made strategic moves to fortify the security and reliability of its ecosystem, including an ecosystem investment with leading Web3 security firms OtterSec and Zellic.

According to Spot On Chain monitoring, the whale address 0x192 has purchased 191.3 WBTC with 7.97 million USDC and USDT at an average price of $41,652 in the past 15 hours. It is worth noting that the whale address, which starts with 0x109, obtained its stablecoin from another whale address. Currently, the total profit estimated from WBTC obtained by this whale is $3.65 million. Currently, these two whales jointly hold 319.4 WBTC (worth $13.4 million) in two addresses.

According to @ai_9684xtpa monitoring, the big short seller of LINK has expanded its borrowing to 108,300 tokens with a health factor of 1.11. In the past 24 hours, the big short seller has added 280,000 USDC tokens to Aave and borrowed a total of 63,000 LINK tokens (worth $960,000). They then sold 53,000 tokens in batches on the chain and repaid 175 WETH tokens and 11.72 WBTC tokens borrowed earlier. Prior to this, on November 20, the short seller added 50,000 USDC tokens as collateral to Aave and borrowed 10,000 LINK tokens, and then continued to short LINK in a cycle by "selling LINK for stablecoins, adding collateral, and borrowing LINK."

Circle issued a total of 1.5 billion USDC and redeemed 1.4 billion USDC in the past 7 days, with an increase of 100 million in circulation. As of November 30th, the total circulation of USDC is 24.4 billion, with a reserve of 24.6 billion US dollars, including 1.9 billion US dollars in cash, and Circle Reserve Fund holds 22.7 billion US dollars.

Circle, the issuer of USDC stablecoin, has denied allegations of illicit financing and connections to Tron founder Justin Sun in an open letter to US senators Elizabeth Warren and Sherrod Brown. The letter, signed by Circle's chief strategy officer and head of public policy, Dante Disparte, dismissed claims made by non-profit watchdog group Campaign for Accountability (CfA) that Circle had ties to Sun and facilitated major flows of funds to Hamas or Hezbollah. Disparte stated that Circle does not finance illicit actors and does not provide financial services to Justin Sun or any entity owned or controlled by him. The allegations against Circle are based on unverified social media posts, and Circle terminated all accounts held by Sun and his affiliated companies in February 2023.

According to data from Circle's official website, Golden Finance reported that Circle issued a total of 1.6 billion USDC in the past 7 days, redeemed 1.2 billion USDC, and increased the circulation by 400 million USDC. As of November 24th, the total circulation of USDC was 24.6 billion, with a reserve of 24.8 billion US dollars, including 2.1 billion US dollars in cash, and Circle Reserve Fund holding 22.7 billion US dollars.

Circle has announced a collaboration with SBI Holdings to introduce its stablecoin USDC and other web3 services into the Japanese market. The partnership will work towards the circulation of USDC and expanding the use of stablecoins in Japan, subject to regulatory approval. SBI will also adopt Circle's web3 services, such as blockchain infrastructure and smart contract management tools. The move comes as Japan prepares for the full-scale introduction of stablecoins, following the revision of a law to establish regulations for dollar-pegged crypto assets.

On November 28th, stablecoin developer Circle announced on the X platform that the Cross-Chain Transfer Protocol (CCTP) is now live on the mainnet of the Noble application chain in the Cosmos ecosystem. The Cosmos application chain can combine CCTP with IBC functionality, allowing users of Ethereum and other supported networks to enter the Cosmos ecosystem. The combination of CCTP and IBC will demonstrate programmatic, 1:1 cross-chain transfers with zero slippage functionality.

Cryptocurrency lending protocol Maple Finance announced a partnership with stablecoin issuer Circle. Circle will provide funding to Maple's collateralized lending pool through its corporate finance department, expanding the use case for USDC.

Jeremy Allaire, co-founder and CEO of Circle, said on social media that the on-chain economy is coming. Ideas that seemed far-fetched a few years ago can now be clearly explained with the technology and newly emerging clear regulatory foundations we have today. The internet financial system has arrived.

Stablecoin issuer Circle announced a partnership with SBI Holdings to expand cryptocurrency innovation in Japan through USDC, banking, and Web3 services.

According to Spot on China monitoring, a whale with an address starting with 0x915 sold 13 million RLB (worth 2.275 million USD) at an average price of 0.175 USD, causing a 6.3% price drop about 12 hours ago. In the past two weeks, the whale has sold 30.4 million RLB at an average price of 0.182 USD and exchanged it for 5.536 million USDC.

Aave community member EzR3aL initiated a temperature check proposal on the governance forum to add native USDC to the Aave V3 Base market. Currently, the Aave V3 Base market only supports the bridged version of USDC called "USDbC". As of November 23, the supply of USDC on Base was 159 million, while the supply of the bridged version was approximately 74 million. Coinbase supports both assets and converts USDbC to USDC when users withdraw from Coinbase, causing the supply of USDbC to decrease over time.

On November 21st, stablecoin issuer Circle has launched a cross-chain USDC standard, which is a new solution to expand USDC usage and reduce fragmentation.EVM blockchain and Rollup teams can now deploy a bridged USDC token contract, while providing flexibility to Circle for seamless future upgrades to native issuance.

According to user X @ai_9684xtpa, who is monitoring it, the whale who shorted LINK on October 31 added 50,000 USDC collateral to Aave and borrowed 10,000 LINK, and then continued to short LINK in a loop by "selling LINK for stablecoins, increasing collateral, and borrowing LINK." The last sell was six hours ago. Currently, there are 50,000 LINK to be repaid, and the health factor is 1.22.

According to data from the Circle official website, Circle issued 1.6 billion USDC and redeemed 1.6 billion USDC in the past 7 days, and the circulation did not change. As of November 16th, the total circulation of USDC was 24.1 billion, with a reserve of 24.2 billion US dollars, including 1.8 billion US dollars in cash, and the Circle Reserve Fund held 22.4 billion US dollars.

Whale Alert monitoring reported that at 07:25:11 Beijing time today, USDC Treasury minted 50,000,000 USDC.

According to Spot on Chain data, an address starting with 0xd08 sold all of its approximately 6.042 million RLB holdings 12 and 8 hours ago at an average price of $0.208, in exchange for 1.26 million USDC. Data shows that the same address purchased these RLB for an average price of $0.128 and 774,000 USDC on October 11, realizing a profit of $485,000 (+62.6%) from this sale.

Cross-chain bridge Allbridge has announced the integration of its Allbridge Core with Circle's cross-chain transfer protocol (CCTP). This update enables Allbridge Core users to benefit from minimum slippage cross-chain transfers on all USDC routes that support CCTP. The new swapping options will provide support for USDC transfers between Avalanche, Arbitrum, and Ethereum.

Data tracked by blockchain analysis company Glassnode shows that for the first time in over a year, funds have flowed into the cryptocurrency market through stablecoins or tokens pegged to the US dollar. The 90-day net change in supply of the top four stablecoins - Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) - has turned positive, marking the first occurrence since the Terra crash in mid-May 2022.