USD Coin Reaches Market Capitalization of $34.67 Billion (USDC)

USD Coin (USDC) traded 0% lower against the US dollar during the 24-hour period ending at 17:00 PM E.T. on October 26th. One USD Coin token can now be purchased for approximately $1.00 or 0.00001489 BTC on exchanges. USD Coin has a total market capitalization of $34.67 billion and $5.90 billion worth of USD Coin was traded on exchanges in the last 24 hours. Over the last week, USD Coin has traded down 0% against the US dollar.

Here’s how other cryptocurrencies have performed over the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower 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 2.2% lower 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 8.9% higher 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 up 0.5% against the dollar and now trades at $160.77 or 0.00239392 BTC.

USD Coin Token Profile

USD Coin launched on October 31st, 2018. USD Coin’s total supply is 34,676,856,285 tokens. The official website for USD Coin is www.centre.io/usdc. 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.

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.”

Buying and Selling USD Coin

It is usually not currently 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 Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase USD Coin using one of the exchanges listed above.

USDC/USD price chart by TradingView