USD Coin (USDC) traded up 0% against the US dollar during the 1 day period ending at 18:00 PM Eastern on April 18th. USD Coin has a market cap of $49.92 billion and $4.13 billion worth of USD Coin was traded on exchanges in the last 24 hours. During the last week, USD Coin has traded down 0% against the US dollar. One USD Coin coin can currently be bought for $1.00 or 0.00002450 BTC on major cryptocurrency exchanges.
Here’s how related cryptocurrencies have performed during the last 24 hours:
- Waltonchain (WTC) traded 3.4% lower against the dollar and now trades at $0.44 or 0.00001080 BTC.
- Metaverse ETP (ETP) traded down 6.1% against the dollar and now trades at $0.11 or 0.00000268 BTC.
- DoragonLand (DOR) traded up 15.7% against the dollar and now trades at $0.0075 or 0.00000018 BTC.
- DogyRace (DOR) traded 14.9% lower against the dollar and now trades at $0.0128 or 0.00000037 BTC.
- Altera (AEN) traded down 1.7% against the dollar and now trades at $0.21 or 0.00000489 BTC.
USD Coin Profile
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. “
USD Coin Coin Trading
It is usually not 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 GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase USD Coin using one of the exchanges listed above.
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