USD Coin (CURRENCY:USDC) traded 0% lower against the dollar during the twenty-four hour period ending at 15:00 PM E.T. on June 11th. In the last week, USD Coin has traded 0% lower against the dollar. One USD Coin coin can currently be purchased for about $1.00 or 0.00002693 BTC on cryptocurrency exchanges. USD Coin has a total market cap of $23.41 billion and approximately $1.87 billion worth of USD Coin was traded on exchanges in the last 24 hours.
Here’s how similar cryptocurrencies have performed in the last 24 hours:
- Ethereum (ETH) traded down 2.4% against the dollar and now trades at $2,414.84 or 0.06500372 BTC.
- Ethereum Classic (ETC) traded 1.3% lower against the dollar and now trades at $57.65 or 0.00155188 BTC.
- Super Zero Protocol (SERO) traded 0.6% higher against the dollar and now trades at $0.23 or 0.00000612 BTC.
- Waltonchain (WTC) traded 3.6% lower against the dollar and now trades at $0.74 or 0.00001988 BTC.
- Callisto Network (CLO) traded 4.1% lower against the dollar and now trades at $0.0153 or 0.00000041 BTC.
- Metaverse ETP (ETP) traded 5.3% lower against the dollar and now trades at $0.17 or 0.00000462 BTC.
- Etho Protocol (ETHO) traded down 8.9% against the dollar and now trades at $0.15 or 0.00000415 BTC.
- Ether Zero (ETZ) traded down 10.5% against the dollar and now trades at $0.0027 or 0.00000007 BTC.
- Master Contract Token (MCT) traded down 2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
- Ellaism (ELLA) traded up 1.1% against the dollar and now trades at $0.0022 or 0.00000006 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. “
Buying and Selling USD Coin
It is usually not presently possible to buy alternative cryptocurrencies such as USD Coin directly using U.S. dollars. Investors seeking to trade USD Coin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy USD Coin using one of the aforementioned exchanges.
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