USD Coin (USDC) 24-Hour Volume Hits $23.97 Billion

USD Coin (USDC) traded 0% higher against the U.S. dollar during the 24 hour period ending at 7:00 AM ET on May 9th. During the last seven days, USD Coin has traded up 0% against the U.S. dollar. One USD Coin token can now be purchased for about $1.00 or 0.00000967 BTC on popular exchanges. USD Coin has a market capitalization of $60.67 billion and $23.97 billion worth of USD Coin was traded on exchanges in the last day.

Here is how related cryptocurrencies have performed during 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 2.2% lower 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 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.
• SolvBTC (SOLVBTC) traded up 3.4% against the dollar and now trades at $103,009.35 or 0.99615764 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 3.4% higher against the dollar and now trades at $102,535.33 or 0.99157357 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

USD Coin Profile

USD Coin’s genesis date was October 31st, 2018. USD Coin’s total supply is 60,661,736,835 tokens. USD Coin’s official Twitter account is @circle and its Facebook page is accessible here. USD Coin’s official website is www.usdc.com. The official message board for USD Coin 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.”

Buying and Selling USD Coin

It is usually not currently possible to purchase alternative cryptocurrencies such as USD Coin directly using U.S. dollars. Investors seeking to trade USD Coin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase USD Coin using one of the aforementioned exchanges.

USDC/USD price chart by TradingView