Deposits and withdrawals of USDC made through other compatible networks, such Ethereum, won't be affected, according to Binance. The most recent action follows the announcement earlier in February by USDC issuer Circle that it intends to stop supporting its token on TRON by February 2025, citing measures "to ensure that USDC remains trusted, transparent and safe."
Around $172 million worth of liquidity, or 0.54% of the total supply, is locked in USDC on TRON as of the time of publication, according to statistics from usdc.cool, a portal that tracks USDC across several blockchains. This amount exceeds the liquidity trapped in other networks, including Optimism ($118 million) and Polygon ($168 million).
Insights from Nansen data indicate that Binance has allotted over $1.7 million in USDC to the TRON network, or around 0.01% of its total token allocation. On the other hand, Tether (USDT) makes up 98.2% of Binance's TRC-20 holdings, which are worth at more than $13.5 billion.
