USD Coin Price The current trading rate is $0.999137. It has fallen 0.2 percent in seven days. Data from Coingecko. Saturday.
USDC’s all-time peak was reached three years ago, or at $1.17 on the 8th of May 2019. On May 19, 2021 at 0.891848, it registered its highest ever low.
There are 55 billion of these coins currently in circulation. The trading volume for the coin is $5,576,310,766.
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USD Coin Remains Bearish with LTT Score Of 23,
USDC’s long-term technical score is currently at 23. This indicates a bearish and weak view based on long-term trading movements.
USDC trade volume has fallen below the average of 7 days in the past 24hrs. The total volume traded on Saturday was 6,391,817.31313 USD Coin currently counts 24676 active addresses.
There was not a clear trend in the moving averages for 20-, 50, 100, 200-hours. In terms of prices, the average crosses are inconsistent and have oscillated between 2,009 to 23,685 in the last 29 weeks.
USD Coin Value remains Consistent
USDC is a stablecoin created by Centre Consortium. It’s fully backed, pegged to USD and has a fixed value of $1 each coin. It’s considered a great investment and passive income stream for many crypto investors because the value doesn’t change regardless of the market volatility or economic state.
Contrary to other coins such as Bitcoin, Ethereum and Dogecoin which have their prices changing rapidly by the hour and others like Shiba Inu and Shiba Inu with fluctuating values, USDC Coin’s value remains constant and predictable over time.
Source: TradingView.com| Source: TradingView.com
Each USD coin can also be collateralized with the US Dollar in a Bank. Every USDC also has an equivalent US Dollar in its storage. Each new coin is issued and supported in a bank account.
It is in fact the only stablecoin that is both crypto-collateralized and fiat-collateralized. USDC has no fiat backing, which is a major advantage over Tether. It’s also widely accepted by traditional investors.
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USDC is stable in an otherwise volatile market like cryptocurrencies. It has US dollars stored in its blockchain. This allows for quick USDC-to-USD conversions and peer-to-peer transaction. Payments can be made in just minutes.
Featured Image from Freepik. Chart by TradingView.com