USD Coin Market Capitalization Achieves $34.97 Billion (USDC)

USD Coin (USDC) traded 0% lower against the US dollar during the 1-day period ending at 8:00 AM E.T. on November 4th. One USD Coin token can now be bought for about $1.00 or 0.00001451 BTC on major cryptocurrency exchanges. USD Coin has a total market cap of $34.97 billion and approximately $1.03 billion worth of USD Coin was traded on exchanges in the last day. During the last seven days, USD Coin has traded 0% lower against the US dollar.

Here is how other cryptocurrencies have performed during 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 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 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 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 (SOLVBTC) traded 0.7% higher against the dollar and now trades at $68,855.07 or 0.99918719 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.3% higher against the dollar and now trades at $68,513.30 or 0.99422772 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 was first traded on October 31st, 2018. USD Coin’s total supply is 34,969,000,000 tokens. The official website for USD Coin is www.centre.io/usdc. USD Coin’s official message board 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 purchase alternative cryptocurrencies such as USD Coin directly using US dollars. Investors seeking to acquire USD Coin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase USD Coin using one of the aforementioned exchanges.

USDC/USD price chart by TradingView