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Crypto

USDC market cap nears $80 billion amid Dubai real estate worries

USDC’s market capitalisation is nearing $80 billion and has hit a record high, Cointelegraph reported on Friday. CoinMarketCap data showed USDC circulation rose to about $79.2 billion, above $79.0 billion in December. Supply has increased in recent weeks, passing $70 billion in early February and $75 billion in early March. A Dubai-based analyst said investors were pulling funds from traditional markets and OTC desks in Dubai could not keep up with demand.

Crypto

Sky cuts token buyback by 87 percent to boost USDS, DAI reserves

Decentralised finance protocol Sky will sharply reduce the size of its token buyback programme to bolster stablecoin reserves. DL News reported that a digital cooperative operating Sky voted on March 12 to cut daily buybacks to $37,600 from $300,000, an 87 percent reduction, for three months. Founder Rune Christensen cited the war in Iran. Critics said the move came late as resources backing USDS and DAI have been shrinking.

AI & Enterprise

Nvidia to unveil first dedicated inference chip as AI inference chip rivalry intensifies

Nvidia is preparing to launch a dedicated inference chip designed to speed up AI responses, with CEO Jensen Huang (젠슨 황) expected to unveil it at the GTC developer conference starting on March 16, the Financial Times reported. The chip is the first product since Nvidia hired Groq founders in a $20 billion deal in December. Nvidia plans to add an LPU line alongside its Vera Rubin GPUs and use SRAM instead of HBM.