USD Coin (CURRENCY:USDC) traded 0% higher against the U.S. dollar during the 24-hour period ending at 18:00 PM ET on November 25th. USD Coin has a market cap of $37.40 billion and approximately $4.55 billion worth of USD Coin was traded on exchanges in the last 24 hours. One USD Coin coin can currently be purchased for about $1.00 or 0.00001699 BTC on popular exchanges. In the last seven days, USD Coin has traded 0% higher against the U.S. dollar.
Here is how other cryptocurrencies have performed in the last 24 hours:
- Ethereum (ETH) traded 5.9% higher against the dollar and now trades at $4,511.97 or 0.07670481 BTC.
- Ethereum Classic (ETC) traded 4.7% higher against the dollar and now trades at $50.49 or 0.00085842 BTC.
- Ethereum Name Service (ENS) traded 41.3% higher against the dollar and now trades at $67.87 or 0.00115375 BTC.
- Waltonchain (WTC) traded up 12.4% against the dollar and now trades at $1.05 or 0.00001783 BTC.
- Super Zero Protocol (SERO) traded 3.1% lower against the dollar and now trades at $0.12 or 0.00000211 BTC.
- Callisto Network (CLO) traded down 0.2% against the dollar and now trades at $0.0096 or 0.00000016 BTC.
- Metaverse ETP (ETP) traded 8.2% higher against the dollar and now trades at $0.25 or 0.00000428 BTC.
- Etho Protocol (ETHO) traded down 6.6% against the dollar and now trades at $0.11 or 0.00000179 BTC.
- Master Contract Token (MCT) traded down 24% against the dollar and now trades at $0.0019 or 0.00000003 BTC.
- Ether Zero (ETZ) traded down 2.1% against the dollar and now trades at $0.0015 or 0.00000002 BTC.
USD Coin Coin Profile
According to CryptoCompare, “USD Coin (USDC) is a fully collateralized US Dollar stable coin. It is built on the open source fiat stable coin framework developed by CENTRE, and Circle is the first of several forthcoming issuers of USDC. USDC is designed to minimize price volatility and it does so by ensuring that every unit of USDC is only created when a corresponding US Dollar is deposited into a reserve bank account. Its major application at this point is as a mechanism for trading and hedging in global crypto capital markets. However, USDC is being adopted for use cases such as lending, payments, investments, and further applications within financial contracts such as derivatives contracts, insurance contracts, and security tokens.Commercial issuers of USDC are required by CENTRE to be licensed to handle electronic money; have audited AML and Compliance programs that meet FATF standards; back all tokens on a fully reserved basis and provide monthly published proof of reserves attested to by certified public auditors; support fungible exchange and redemption of USDC tokens from other authorized issuer members; meet other reporting and review requirements established by CENTRE Note that as a fully collateralized stablecoin, the supply is determined by the USD deposits being taken on issuing services such as circle.com/usdc. Recently, CENTRE announced that Coinbase is joining Circle as a founding member of CENTRE Consortium, and as part of this USDC is now available on Coinbase Pro and coinbase.com. “
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 Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase USD Coin using one of the aforementioned exchanges.
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