USD Coin (USDC) traded 0% higher against the U.S. dollar during the 24-hour period ending at 11:00 AM E.T. on July 5th. One USD Coin coin can currently be bought for about $1.00 or 0.00005129 BTC on popular exchanges. During the last seven days, USD Coin has traded 0% lower against the U.S. dollar. USD Coin has a market capitalization of $55.81 billion and $5.16 billion worth of USD Coin was traded on exchanges in the last 24 hours.
Here is how other cryptocurrencies have performed during the last 24 hours:
- Waltonchain (WTC) traded down 2.9% against the dollar and now trades at $0.18 or 0.00000898 BTC.
- Metaverse ETP (ETP) traded 0.5% higher against the dollar and now trades at $0.0363 or 0.00000186 BTC.
- DogyRace (DOR) traded 2.2% higher against the dollar and now trades at $0.0083 or 0.00000022 BTC.
- DoragonLand (DOR) traded up 4.7% against the dollar and now trades at $0.0011 or 0.00000006 BTC.
- Altera (AEN) traded 1.7% lower against the dollar and now trades at $0.21 or 0.00000489 BTC.
About USD Coin
According to CryptoCompare, “USD Coin (USDC) is a fully collateralized US Dollar stable coin. It is built on the open source fiat stable coin framework developed by CENTRE, and Circle is the first of several forthcoming issuers of USDC. USDC is designed to minimize price volatility and it does so by ensuring that every unit of USDC is only created when a corresponding US Dollar is deposited into a reserve bank account. Its major application at this point is as a mechanism for trading and hedging in global crypto capital markets. However, USDC is being adopted for use cases such as lending, payments, investments, and further applications within financial contracts such as derivatives contracts, insurance contracts, and security tokens.Commercial issuers of USDC are required by CENTRE to be licensed to handle electronic money; have audited AML and Compliance programs that meet FATF standards; back all tokens on a fully reserved basis and provide monthly published proof of reserves attested to by certified public auditors; support fungible exchange and redemption of USDC tokens from other authorized issuer members; meet other reporting and review requirements established by CENTRE Note that as a fully collateralized stablecoin, the supply is determined by the USD deposits being taken on issuing services such as circle.com/usdc. Recently, CENTRE announced that Coinbase is joining Circle as a founding member of CENTRE Consortium, and as part of this USDC is now available on Coinbase Pro and coinbase.com. “
USD Coin Coin Trading
It is usually not possible to purchase alternative cryptocurrencies such as USD Coin directly using U.S. dollars. Investors seeking to trade USD Coin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase USD Coin using one of the aforementioned exchanges.
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