The post Can native USDC launch on May 6 ignite a breakout? appeared on BitcoinEthereumNews.com.

Sonic is set to upgrade to native USDC and integrate with CCTP V2 for better liquidity and experience. Sonic (S) price, currently at $0.5226, may hit $1.03 or fall to $0.3596 after the upgrade. A successful transition could spark increased adoption and liquidity, potentially pushing the S price higher. Sonic (S), the native token of the Sonic blockchain, has been trading in a tight range for the past 48 days, with investors eagerly awaiting the upcoming transition from bridged USDC to native USDC. This transition, scheduled to begin on May 6, 2025, is expected to bring significant changes to the Sonic ecosystem, potentially impacting the price of Sonic (S). As the market remains in a state of anticipation, understanding the implications of this transition and the current technical setup is crucial for predicting the future price movement of Sonic (S). The upcoming bridged USDC to native USDC transition on Sonic Bridged USDC, known as USDC.e, is a version of the widely used stablecoin USDC that has been bridged from another blockchain to the Sonic network. This bridged form has been functional but carries limitations like potential liquidity fragmentation and dependency on third-party bridging mechanisms. The shift to native USDC, issued directly by Circle on the Sonic blockchain, is designed to overcome these challenges and streamline operations. Native USDC is fully regulated, backed by reserves, and redeemable on a 1:1 basis for US dollars, offering a robust and trustworthy stablecoin option. It also introduces institutional on/off-ramps via Circle Mint, enabling eligible businesses to seamlessly engage with the Sonic ecosystem. The integration with CCTP V2 further enhances this upgrade by facilitating fast, secure, and efficient cross-chain USDC transfers across supported blockchains. Scheduled to start on May 6, 2025, the transition will pause bridging activity on the Sonic Gateway between Ethereum and Sonic…

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Filed under: News - @ April 29, 2025 7:21 pm