USD Coin (USDC) had a bad 24 hours as the cryptocurrency declined $-0.01806073972147 or -1.74% trading at $1.01727968402863. According to Cryptocoin Analysts, USD Coin (USDC) eyes $1.1190076524315 target on the road to $2.27480542857004. USDC last traded at Kucoin exchange. It had high of $1.04540842212075 and low of $1.00988400588139 for February 12-13. The open was $1.0353404237501.
USD Coin (USDC) is up 0.72% in the last 30 days from $1.01 per coin. Its up 2.73% in the last 100 days since when traded at $0.9902 and the annual trend is up. 200 days ago USDC traded at $0.00 (non existent). USDC has 253.79M coins mined giving it $258.17 million market cap. USD Coin maximum coins available are . USDC uses algorithm and proof type. It was started on 17/05/2018.
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.