USD Coin (USDC) Market Capitalization Achieves $34.34 Billion

USD Coin (USDC) traded 0% higher against the U.S. dollar during the twenty-four hour period ending at 8:00 AM Eastern on October 24th. In the last seven days, USD Coin has traded 0% higher against the U.S. dollar. USD Coin has a total market capitalization of $34.34 billion and approximately $7.20 billion worth of USD Coin was traded on exchanges in the last 24 hours. One USD Coin token can now be bought for approximately $1.00 or 0.00001486 BTC on major cryptocurrency exchanges.

Here is how similar cryptocurrencies have performed in the last 24 hours:

• 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 down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower 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.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded down 0% against the dollar and now trades at $0.0944 or 0.00000141 BTC.
• P2P Solutions foundation (P2PS) traded 1.6% lower against the dollar and now trades at $164.00 or 0.00243572 BTC.

USD Coin Token Profile

USD Coin’s genesis date was October 31st, 2018. USD Coin’s total supply is 34,336,148,233 tokens. USD Coin’s official message board is medium.com/centre-blog. USD Coin’s official Twitter account is @circle and its Facebook page is accessible here. The official website for USD Coin is www.centre.io/usdc.

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 presently possible to buy alternative cryptocurrencies such as USD Coin directly using US dollars. Investors seeking to acquire USD Coin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy USD Coin using one of the exchanges listed above.

USDC/USD price chart by TradingView