USD Coin (USDC) Market Capitalization Tops $45.55 Billion

USD Coin (USDC) traded down 0% against the US dollar during the 1 day period ending at 10:00 AM ET on January 5th. USD Coin has a total market capitalization of $45.55 billion and approximately $4.37 billion worth of USD Coin was traded on exchanges in the last day. In 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 0.00001019 BTC on exchanges.

Here’s how other cryptocurrencies have performed in the last day:

• 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 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 up 0.2% against the dollar and now trades at $97,798.77 or 0.99652299 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0% higher against the dollar and now trades at $96,910.91 or 0.98747613 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 down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About USD Coin

USD Coin’s launch date was October 31st, 2018. USD Coin’s total supply is 45,546,858,008 tokens. The official website for USD Coin is www.usdc.com. 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.

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, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy USD Coin using one of the exchanges listed above.

USDC/USD price chart by TradingView