USD Coin Trading Up 0% Over Last Week (USDC)

USD Coin (USDC) traded up 0% against the U.S. dollar during the 24-hour period ending at 17:00 PM E.T. on January 25th. One USD Coin token can now be bought for about $1.00 or 0.00004272 BTC on major cryptocurrency exchanges. In the last seven days, USD Coin has traded 0% higher against the U.S. dollar. USD Coin has a market cap of $43.49 billion and $4.24 billion worth of USD Coin was traded on exchanges in the last day.

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

• Aidi Finance (BSC) (AIDI) traded 0.2% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded up 3.5% against the dollar and now trades at $0.0613 or 0.00000260 BTC.
• CareCoin (CARES) traded 3.5% higher against the dollar and now trades at $0.0761 or 0.00000323 BTC.
• OmniaVerse (OMNIA) traded up 11.5% against the dollar and now trades at $0.0022 or 0.00000009 BTC.
• Kitty Inu (KITTY) traded 3.5% higher against the dollar and now trades at $94.16 or 0.00399440 BTC.
• Lunar (LNR) traded 3.9% lower against the dollar and now trades at $0.0280 or 0.00000119 BTC.
• Hokkaidu Inu (HOKK) traded 4.3% higher against the dollar and now trades at $0.0006 or 0.00000002 BTC.
• QANplatform (QANX) traded up 3.5% against the dollar and now trades at $6,609.34 or 0.28037725 BTC.
• 2G Carbon Coin (2GCC) traded down 0.1% against the dollar and now trades at $135.45 or 0.00574597 BTC.
• Lego Coin (LEGO) traded down 2% against the dollar and now trades at $0.0406 or 0.00000173 BTC.

About USD Coin

USD Coin’s genesis date was October 31st, 2018. USD Coin’s total supply is 43,489,283,459 tokens. The official website for USD Coin is www.centre.io/usdc. USD Coin’s official Twitter account is @centre_io and its Facebook page is accessible here. USD Coin’s official message board is medium.com/centre-blog.

According to CryptoCompare, “Who Created USDC?The cryptocurrency is an open-source project that anyone can view and contribute to and is managed by the Centre consortium, which was co-founded by fintech firm Circle and Nasdaq-listed cryptocurrency exchange Coinbase.Accounting firm Grant Thornton oversees the segregated accounts with regulated U.S. financial institutions that hold the cryptocurrency’s reserves, held in dollars and dollar-denominated assets. In USDC’s case, these dollar-denominated assets are short-term U.S. Treasury securities.How Does USDC Remain at $1!?Because USDC is a fully collateralized stablecoin backed by dollar-denominated assets and allows token holders to redeem USDC tokens for dollars, it can almost be seen as a digital version of the U.S. dollar.Investors can initiate a transaction to buy USDC using fiat currency, with the fiat currency they send over being deposited at a U.S. financial institution while USDC tokens in the same nominal value are minted. If the USDC is redeemed for the fiat currency, the tokens are burned and the dollars are transferred to investors’ bank accounts, according to USDC’s whitepaper. What is USDC Used For?USDC is a widely used stablecoin being adopted throughout the cryptocurrency market as it competes with the leading stablecoin USDT. Some of the cryptocurrency’s use cases include:Hedging against volatilityStable price-peggingRemittancesCrowdfundingPayments for products and servicesLending, borrowing, and other financial servicesBecause USDC is a blockchain-based digital currency, it doesn’t require a bank account, users don’t need to be in a specific location or have an account with a specific institution to use it. Moreover, it isn’t restricted by banking hours or borders.The cryptocurrency is available on a number of blockchains, including Ethereum, Algorand, BNB Chain, Polygon Avalanche, Cronos, Solana, Stellar, and TRON. It’s widely used in the decentralized finance (DeFi) space.”

USD Coin Token Trading

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