USD Coin Reaches Market Capitalization of $26.12 Billion (USDC)
Here’s how related cryptocurrencies have performed during the last day:
- Ethereum (ETH) traded 0.4% lower against the dollar and now trades at $2,110.25 or 0.06258859 BTC.
- Ethereum Classic (ETC) traded down 0.3% against the dollar and now trades at $49.13 or 0.00145726 BTC.
- Super Zero Protocol (SERO) traded up 0.8% against the dollar and now trades at $0.19 or 0.00000577 BTC.
- Waltonchain (WTC) traded down 2.2% against the dollar and now trades at $0.53 or 0.00001581 BTC.
- Callisto Network (CLO) traded down 11.7% against the dollar and now trades at $0.0060 or 0.00000018 BTC.
- Metaverse ETP (ETP) traded down 3.7% against the dollar and now trades at $0.15 or 0.00000451 BTC.
- Etho Protocol (ETHO) traded 5.1% lower against the dollar and now trades at $0.0757 or 0.00000225 BTC.
- Ether Zero (ETZ) traded down 1.5% against the dollar and now trades at $0.0016 or 0.00000005 BTC.
- Master Contract Token (MCT) traded down 0.9% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
- Ellaism (ELLA) traded 0.1% higher against the dollar and now trades at $0.0020 or 0.00000006 BTC.
USD Coin Profile
USDC is a coin. It launched on October 31st, 2018. USD Coin’s total supply is 26,110,894,133 coins. 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. The official message board for USD Coin is medium.com/centre-blog.
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 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 Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy USD Coin using one of the exchanges listed above.
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