Name Symbol Market Market Cap ($) Algorithm
USD Coin USDCUSD Crypto 43,767,515,497 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  -0.0001 -0.01% 0.9999 0.9999 1.00
High Price Low Price Open Price Prev. Close 52 Week Range
1.00 0.99983 1.00 1.00 - - -
Exchange Last Trade Size Trade Price Currency
KRKN 01:17:40 5,000.00 0.9999 USD
Price x Volume Volume Base Symbol Related Pairs

Want to Hodl USDC? Check These Indicators First To Ease Doubt

24/08/2022 5:08pm


USD Coin (USDC), a stablecoin developed by Circle, has suffered a great deal from frequent price volatility in the cryptocurrency market. USDC signals drop recently due to massive sell-offs USD Coin exhibits extreme volatility USDC’s weekly mean transaction volume peaks at three-year high  In actuality, USDC whale addresses likewise appeared to be sending out signals that were identical. For instance, the signals for USD Coin have been dropping recently. Simply put, subsequent sell-offs and market events have decreased stablecoin’s market capitalization. According to CoinMarketCap, USD is now trading at $1.00 or up by 0.01% as of this writing. Related Reading: Litecoin (LTC) Near-Term Route Could Be Determined By This Factor Limit Losses With This Stablecoin With the help of stablecoins like Circle [USDC], Tether [USDT], and Binance USD [BUSD], investors can limit their losses. These dollar-pegged cryptocurrencies give certain investors the opportunity to stake heavily once the market declines. As a result, it would have been anticipated given the condition of the cryptocurrency market that several investors would have stable funding in stables. These predictions may not be accurate, though. In a report published on August 22 by CryptoQuant analyst BinhDang, it is stated that the top three stablecoins’ spot exchange reserves are in inferior condition, with USDC leading the perilous situation. Related Reading: Elrond Network Watch: Consider This Before Filling Up Your Wallet With EGLD BinhDang observed that the USDC was at the forefront of the reserves holding decline. The USDC spot exchange reserves dropped significantly in June, falling from $1.9 billion to $1.3 billion, although the present level is exceedingly low. There are possible circumstances that could have induced these declines, according to the CryptoQuant analyst. The first is that over the past 24 hours, the exchange’s inflow and outflow’s seven-day mean Moving Average (Mean, MA7) have dramatically fallen. Additionally, the sanctions placed by the US Treasury Department against cryptocurrency exchange Tornado Cash had a substantial effect on the market capitalization both for USDC and Tether (USDT). Meanwhile, the value of USDC’s market tumbled after its creator Circle decided to freeze more than 75,000 USDC tokens held by accounts linked to Tornado Cash. Another is that institutional investors and crypto whales may have “surpassed their limitations” on Bitcoin [BTC] at several price troughs. Along with USDC, USDT, and BUSD have also reached record lows with no notable uptick in more than eight months. USDC Trading Value Declines The USDC reserves have been decreasing for about a week, according to a review of the holdings. On August 17, it had a value of about $4.45 billion; today, it had a value of $3.26 billion, a decrease of 4% from the previous day. According to the USDC mean exchange inflow and outflow, CryptoQaunt displayed a 70% and 74% decline, respectively. With the steady decline, BinhDang’s assertion that institutional and ordinary investors are unconcerned about HODLing stablecoins may be true. Despite having a lower market valuation, one aspect of USDC’s performance improved immensely. Its weekly mean transaction volume increased as it reached a three-year high. Recently, USDC appears to be garnering more support than USDT. This attention hasn’t resulted in more stablecoin holders, though. Since the stablecoin is still the fourth-largest cryptocurrency by market valuation, it certainly comes with a lot of expectations. USDC total market cap at $54 billion on the daily chart | Source: Featured image from Freepik, chart from

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