USD Coin (USDC) Reaches Market Cap of $34.87 Billion

USD Coin (USDC) traded up 0% against the dollar during the 24-hour period ending at 23:00 PM ET on November 1st. During the last week, USD Coin has traded up 0% against the dollar. One USD Coin token can currently be bought for about $1.00 or 0.00001435 BTC on popular cryptocurrency exchanges. USD Coin has a total market cap of $34.87 billion and $8.32 billion worth of USD Coin was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed during the last 24 hours:

• 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 up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 0% against the dollar and now trades at $69,562.54 or 0.99848263 BTC.
• SolvBTC (SOLVBTC) traded 0.1% higher against the dollar and now trades at $69,548.26 or 0.99827771 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

USD Coin Profile

USD Coin was first traded on October 31st, 2018. USD Coin’s total supply is 34,873,787,143 tokens. The official website for USD Coin is www.centre.io/usdc. 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 US dollars. Investors seeking to trade USD Coin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. 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