Circle Launches Cross-Chain Transfer Protocol for USDC Between Ethereum and Avalanche

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Today’s Cryptocurrency Headline

Circle announced today the launch of a cross-chain transfer protocol (CCTP) for USDC between Ethereum and Avalanche. The protocol will destroy tokens on the original chain when users transfer them across chains and mint new tokens on the target chain. Circle stated that cross-chain projects including Celer, Hyperlane, LayerZero, LI.FI, MetaMask, and Wormhole will use the protocol in the future.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 2.63% over the last 24 hours and rose to an intraday high of $30,036.00. Due to the crisis at First Republic Bank, the biggest cryptocurrency underwent significant volatility, ranging from $27,235.00 to $30,036.00 in the last 24 hours, suggesting investors have different views on the event. The relative strength index (RSI) is in the positive territory, suggesting that the bulls have an upper. If the BTC/USDT pair maintains above $29,000, it may rise to $30,000.

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