USD Coin (USDC) Hits Market Cap of $34.63 Billion

USD Coin (USDC) traded up 0% against the US dollar during the 24-hour period ending at 8:00 AM Eastern on October 22nd. USD Coin has a total market capitalization of $34.63 billion and $7.15 billion worth of USD Coin was traded on exchanges in the last 24 hours. Over the last week, USD Coin has traded 0% higher against the US dollar. One USD Coin token can now be bought for about $1.00 or 0.00001486 BTC on major cryptocurrency exchanges.

Here is how other cryptocurrencies have performed over 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 up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% 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 0.1% lower 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 0.00000140 BTC.
• P2P Solutions foundation (P2PS) traded down 2.5% against the dollar and now trades at $170.59 or 0.00253525 BTC.

About USD Coin

USD Coin was first traded on October 31st, 2018. USD Coin’s total supply is 34,630,302,554 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 purchase alternative cryptocurrencies such as USD Coin directly using U.S. dollars. Investors seeking to trade USD Coin should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase USD Coin using one of the aforementioned exchanges.

USDC/USD price chart by TradingView