USD Coin (CURRENCY:USDC) traded 0% higher against the U.S. dollar during the 1-day period ending at 17:00 PM ET on June 10th. During the last seven days, USD Coin has traded 0% higher against the U.S. dollar. One USD Coin coin can now be purchased for $1.00 or 0.00002733 BTC on major cryptocurrency exchanges. USD Coin has a total market capitalization of $23.21 billion and $1.91 billion worth of USD Coin was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed during the last day:
- Ethereum (ETH) traded down 3.9% against the dollar and now trades at $2,471.15 or 0.06751884 BTC.
- Ethereum Classic (ETC) traded down 5% against the dollar and now trades at $57.90 or 0.00158204 BTC.
- Super Zero Protocol (SERO) traded down 2.2% against the dollar and now trades at $0.22 or 0.00000614 BTC.
- Waltonchain (WTC) traded 8.8% lower against the dollar and now trades at $0.77 or 0.00002092 BTC.
- Callisto Network (CLO) traded down 5% against the dollar and now trades at $0.0153 or 0.00000042 BTC.
- Metaverse ETP (ETP) traded 6.2% lower against the dollar and now trades at $0.18 or 0.00000493 BTC.
- Etho Protocol (ETHO) traded down 0.9% against the dollar and now trades at $0.18 or 0.00000484 BTC.
- Ether Zero (ETZ) traded 0.8% lower against the dollar and now trades at $0.0030 or 0.00000008 BTC.
- Master Contract Token (MCT) traded up 0.6% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
- Ellaism (ELLA) traded up 0.6% against the dollar and now trades at $0.0022 or 0.00000006 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. “
Buying and Selling USD Coin
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 Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. 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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