Users of Arbitrum orbit chains, layer-3 solutions for Ethereum built on top of the platform’s technology stacks, can now pay gas fees using USDC. The move comes even as ARB, the native token of the Ethereum layer-2, continues to post lower lows, pushing losses to nearly 80% since January 2024 highs. Arbitrum Orbit Chains Support USDC For Paying Gas Fees In a press release, the decision to integrate bridged USDC aims to reduce gas fees and attract more developers. As of August 8, USDC is one of the top stablecoins by market cap. CoinMarketCap data shows that Circle, the stablecoin issuer, has minted over $34.5 billion of the token, mainly on Ethereum and its layer-2s. Related Reading: 3 Reasons Why Ethereum Is Struggling Today: Will ETH Break $2,000? It should be noted that USDC is also supported in other ecosystems, including Solana and the BNB Chain. Currently, over $1.6 billion USDC has been bridged to Arbitrum. By allowing users to pay gas fees using USDC, Arbitrum said they would be saved from the pain of enduring volatility typical in ETH. De ..
Support the originator by clicking the read the rest link below.
