Altcoins
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Cryptocurrency journalist and analyst Colin Wu spoke about the state of affairs regarding the stablecoin USD Coin (USDC). He noted that he studied the statistics associated with this virtual asset. According to him, in the period from November 25 to December 1, 2022, about $3.2 billion USDC appeared on the market, which were issued by the issuer, Circle. However, during the same time period, about 4 billion USDC were redeemed.
Thus, the circulating supply decreased by about 800 million USDC. It fell from $43.8 billion to $43 billion. The journalist emphasized that this stablecoin is still very popular among members of the cryptocurrency community and ranks second in terms of total market capitalization in the sector.
As of 14:00 Moscow time on December 5, 2022, the total supply of USDC coins on the market was $43.34 billion. The industry leader, stablecoin Tether (USDT), for example, had a total capitalization of $65.5 billion. place in the ranking of the most popular stablecoins on the market, represented by Binance USD (BUSD). Its total offer was $22.08 billion at the time of writing.
USDC was positioned by the developers as a fast, safe and efficient way to send, spend and exchange money around the world. A stablecoin allows applications to provide access to any payment and financial services.
USDC is a digital dollar that is available in numerous markets and moves almost instantly. USDC operates on several leading blockchain networks at once, including Ethereum, Tron and others. Trading volumes with this stablecoin over the past week amounted to $19.98 billion, and its value was exactly $1.
Earlier it became known that the MakerDAO community decided not to invest $500 million in USDC in US government bonds.
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