USD Coin (CURRENCY:USDC) traded 0% lower against the US dollar during the 1 day period ending at 12:00 PM ET on September 28th. USD Coin has a total market capitalization of $31.32 billion and $3.20 billion worth of USD Coin was traded on exchanges in the last day. Over the last week, USD Coin has traded up 0% against the US dollar. One USD Coin coin can currently be purchased for approximately $1.00 or 0.00002414 BTC on exchanges.
Here’s how related cryptocurrencies have performed over the last day:
- Ethereum (ETH) traded down 7% against the dollar and now trades at $2,837.63 or 0.06848093 BTC.
- Ethereum Classic (ETC) traded 3% lower against the dollar and now trades at $45.27 or 0.00109253 BTC.
- Waltonchain (WTC) traded down 7.7% against the dollar and now trades at $0.81 or 0.00001947 BTC.
- Super Zero Protocol (SERO) traded down 5.2% against the dollar and now trades at $0.17 or 0.00000409 BTC.
- Callisto Network (CLO) traded 0.8% higher against the dollar and now trades at $0.0069 or 0.00000017 BTC.
- Metaverse ETP (ETP) traded 4.4% lower against the dollar and now trades at $0.15 or 0.00000352 BTC.
- Etho Protocol (ETHO) traded 4% lower against the dollar and now trades at $0.0911 or 0.00000220 BTC.
- Ether Zero (ETZ) traded 8.3% lower against the dollar and now trades at $0.0011 or 0.00000003 BTC.
- Master Contract Token (MCT) traded 6.3% lower against the dollar and now trades at $0.0002 or 0.00000000 BTC.
- Bitcoiin (B2G) traded down 4.3% against the dollar and now trades at $0.0008 or 0.00000002 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 currently possible to buy alternative cryptocurrencies such as USD Coin directly using U.S. dollars. Investors seeking to acquire USD Coin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy USD Coin using one of the aforementioned exchanges.
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