USD Coin (USDC) Hits Self Reported Market Cap of $60.88 Billion

USD Coin (USDC) traded 0% lower against the U.S. dollar during the 24-hour period ending at 9:00 AM E.T. on August 4th. During the last seven days, USD Coin has traded 0% lower against the U.S. dollar. One USD Coin token can currently be bought for about $1.00 or 0.00001562 BTC on popular exchanges. USD Coin has a market capitalization of $60.88 billion and $8.88 billion worth of USD Coin was traded on exchanges in the last 24 hours.

Here is how other 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 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.
• UZDT (UZDT) traded up 0% against the dollar and now trades at $1.00 or 0.00001562 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.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded up 1.7% against the dollar and now trades at $63,800.99 or 0.99690888 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 December 31st, 2024. USD Coin’s total supply is 72,039,638,662 tokens and its circulating supply is 60,901,219,650 tokens. The official website for USD Coin is www.circle.com/en/usdc. 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.

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.”

USD Coin Token Trading

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 Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. 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