USD Coin Achieves Market Capitalization of $34.70 Billion (USDC)

USD Coin (USDC) traded down 0% against the U.S. dollar during the 24 hour period ending at 0:00 AM Eastern on October 28th. One USD Coin token can currently be purchased for about $1.00 or 0.00001407 BTC on popular exchanges. USD Coin has a market capitalization of $34.70 billion and $8.74 billion worth of USD Coin was traded on exchanges in the last day. In the last seven days, USD Coin has traded down 0% against the U.S. dollar.

Here is how other cryptocurrencies have performed in the last day:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded up 4.6% against the dollar and now trades at $70,781.68 or 0.99637775 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 4.3% against the dollar and now trades at $70,487.38 or 0.99223495 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

USD Coin Profile

USD Coin launched on October 31st, 2018. USD Coin’s total supply is 34,700,340,995 tokens. USD Coin’s official message board is medium.com/centre-blog. The official website for USD Coin is www.centre.io/usdc. USD Coin’s official Twitter account is @circle and its Facebook page is accessible here.

According to CryptoCompare, “USD Coin (USDC) is a fully reserved stablecoin pegged 1:1 to the US dollar, ensuring price stability through a reserve backed by cash and short-duration U.S. Treasury instruments. These reserves are held by regulated financial institutions like The Bank of New York Mellon and managed by BlackRock via the Circle Reserve Fund. Circle, which independently manages USDC after its initial development with Coinbase under the CENTRE Consortium, ensures transparency through monthly audits by Deloitte. USDC operates on 16 blockchains, including Ethereum, Solana, and Polygon, offering wide liquidity and accessibility. It is used in cross-border payments, DeFi, and as a hedge against cryptocurrency volatility. It provides a stable alternative for remittances and exposure to the U.S. dollar for non-U.S. investors. USDC maintains its 1:1 peg by minting and burning tokens based on USD deposits and redemptions, offering secure and regulated digital dollar transactions.”

USD Coin Token Trading

It is usually not currently possible to purchase alternative cryptocurrencies such as USD Coin directly using US dollars. Investors seeking to acquire USD Coin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase USD Coin using one of the aforementioned exchanges.

USDC/USD price chart by TradingView