USD Coin (USDC) Hits Market Capitalization of $45.33 Billion

USD Coin (USDC) traded up 0% against the U.S. dollar during the one day period ending at 10:00 AM E.T. on January 9th. USD Coin has a market cap of $45.33 billion and approximately $9.16 billion worth of USD Coin was traded on exchanges in the last day. One USD Coin token can currently be purchased for about $1.00 or 0.00001067 BTC on popular exchanges. In the last week, USD Coin has traded up 0% against the U.S. dollar.

Here is how similar cryptocurrencies have performed in the last day:

• 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 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.
• SolvBTC (SOLVBTC) traded 1.4% lower against the dollar and now trades at $93,336.19 or 0.99547460 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 1.8% lower against the dollar and now trades at $92,640.96 or 0.98805967 BTC.
• Lumi Credits (LUMI) traded 8.9% higher 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.

USD Coin Profile

USD Coin’s genesis date was October 31st, 2018. USD Coin’s total supply is 45,325,176,697 tokens. USD Coin’s official Twitter account is @circle and its Facebook page is accessible here. USD Coin’s official message board is medium.com/centre-blog. USD Coin’s official website is www.usdc.com.

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 US dollars. Investors seeking to trade USD Coin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy USD Coin using one of the exchanges listed above.

USDC/USD price chart by TradingView