USD Coin (USDC) One Day Volume Tops $3.32 Billion

USD Coin (USDC) traded up 0% against the U.S. dollar during the 24-hour period ending at 11:00 AM ET on October 27th. One USD Coin token can now be bought for about $1.00 or 0.00001478 BTC on popular cryptocurrency exchanges. USD Coin has a total market cap of $34.68 billion and $3.32 billion worth of USD Coin was traded on exchanges in the last day. Over the last seven days, USD Coin has traded 0% lower against the U.S. dollar.

Here’s how similar cryptocurrencies have performed over 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 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.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 1% higher against the dollar and now trades at $67,464.01 or 0.99709726 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 1.1% higher against the dollar and now trades at $67,415.10 or 0.99637433 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

USD Coin Token Profile

USD Coin’s launch date was October 31st, 2018. USD Coin’s total supply is 34,684,540,093 tokens. USD Coin’s official Twitter account is @circle and its Facebook page is accessible here. The official message board for USD Coin is medium.com/centre-blog. USD Coin’s official website is www.centre.io/usdc.

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

USDC/USD price chart by TradingView