USD Coin Price Reaches $1.00 on Major Exchanges (USDC)

USD Coin (USDC) traded 0% lower against the U.S. dollar during the 24 hour period ending at 10:00 AM E.T. on February 6th. In the last week, USD Coin has traded down 0% against the U.S. dollar. One USD Coin token can currently be purchased for approximately $1.00 or 0.00001023 BTC on major cryptocurrency exchanges. USD Coin has a market capitalization of $55.68 billion and $467.50 million worth of USD Coin was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed in the last day:

• GMX (GMX) traded 3.1% lower against the dollar and now trades at $16.74 or 0.00017123 BTC.
• 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 down 2.2% 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 down 0.2% against the dollar and now trades at $97,789.57 or 1.00003066 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.1% against the dollar and now trades at $97,512.15 or 0.99719363 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.

About USD Coin

USD Coin’s genesis date was October 31st, 2018. USD Coin’s total supply is 55,678,328,590 tokens. 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. The official website for USD Coin is www.usdc.com.

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 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 Changelly, GDAX or Coinbase. 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