USD Coin (USDC) Market Capitalization Tops $42.22 Billion

USD Coin (USDC) traded up 0% against the U.S. dollar during the 1 day period ending at 10:00 AM Eastern on December 20th. One USD Coin token can now be purchased for $1.00 or 0.00001030 BTC on cryptocurrency exchanges. Over the last week, USD Coin has traded 0% higher against the U.S. dollar. USD Coin has a total market capitalization of $42.22 billion and $17.33 billion worth of USD Coin was traded on exchanges in the last 24 hours.

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 2.2% lower 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 down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded 3.4% lower against the dollar and now trades at $96,439.12 or 0.99313284 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 5.8% against the dollar and now trades at $95,219.93 or 0.98057759 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.

About USD Coin

USD Coin launched on October 31st, 2018. USD Coin’s total supply is 42,209,442,120 tokens. The official website for USD Coin is www.usdc.com. The official message board for USD Coin 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 presently 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 Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy USD Coin using one of the aforementioned exchanges.

USDC/USD price chart by TradingView