Latest USD Coin news
The Big 'Winner' From the Crypto Crash? USDC Stablecoin
Every market—including a bearish one—has its winners and losers.
BAYC NFT sells for $200 USDC
In a strange turn of events, a BAYC token sells for $200 USDC, but there might be more to this sale than meets the eye; here’s more on this bizarre development. Why do some NFTs keep selling for less than their value? More than once, we’ve reported on how high-profile NFTs have been sold for […] The post BAYC NFT sells for $200 USDC appeared first on NFT News Today.
Can USDC Follow UST's Footpath? Probably Not, And Here's Why
On Wednesday, the cryptocurrency community saw TerraUSD (CRYPTO: UST) the native algorithmic stablecoin of the Terra (CRYPTO: LUNA) protocol lose its peg while bringing LUNA down with it. Many are now wondering if something similar could happen with traditional stablecoins such as USD Coin (CRYPTO: USDC), but the same scenario cannot occur with such systems. Here's why. What Happened: On Wednesday, TerraUSD saw its price fall away from its peg to a low of under 30 cents per token while Terra lost well over 97% of its value when falling from $33.20 down to a low of $0.8755. Still, the same mechanism that hurt both Terra and TerraUSD cannot hurt traditional stablecoins such as USD Coin. See Also: How To Earn Free Crypto TerraUSD is an algorithmic stablecoin not backed by U.S. dollars but highly volatile Terra tokens, while attempting to maintain the token's value stable at $1 (or "pegged") thanks to crypto incentives. Whenever UST trades under $1, it creates an incentive to buy as much UST as possible to then destroy it and mint $1 worth of Terra per each token instead, which can be then sold at a profit. When UST trades over $1, it creates an incentive to buy Terra and mint as much UST as possible to sell it at a profit since minting new tokens still cost $1 in Terra, which increases TerraUSD's supply to lower the price again. As we explained in Wednesday's analysis, what presumably occurred Thursday is a consequence of Saturday's initial fall of TerraUSD's value under $1, which was caused by the sudden sale of $285 million of UST on decentralized finance (DeFi) protocol. This resulted in a prolonged loss of confidence in its capacity to maintain its value stable. This also caused sustained selling pressure on Terra, which initially lost about 20% of its value, but UST has been under its $1 price target ever since Monday despite regaining it soon after the initial incident. The sustained selling pressure, through new token minting, also resulted in Terra's sudden supply inflation. This, paired with the use of UST as a stablecoin becoming unpractical and dampening demand for the stablecoin, initiated a runaway reaction. This reaction resulted in billions of dollars evaporating from Terra's and TerraUSD's market caps in mere hours, as Terra's supply increased by over 9.5% in under 24 hours. The Difference With Stablecoins: A stablecoin such as USD Coin — while not without its fair share of controversy — is a much simpler system not backed by cryptocurrencies and instead uses centralized vaults of traditional assets that are expected to be much more stable and do not rely on complex arbitrage incentives to maintain value. As reported in late August 2021, after a scandal over USDC being backed by about 61% of its tokens, it is now backed by “cash and cash equivalents" with the rest being backed by more risky traditional assets. USD Coin operators Circle and Coinbase Global Inc. (NASDAQ: COIN) promised to switch to a conservative investment approach in September 2021 — using only "cash and short-duration US government treasuries." USDC is not without its risk and does not have a completely clean record — especially considering that until the aforementioned scandal, Circle claimed that every USDC was backed by $1 in a bank account — but the risks involved are very different. Unlike TerraUSD, USD Coin has centralized reserves. Investors have to trust the auditing third parties when they claim the asset is backed and by what, instead of being able to check the balance of a smart contract to see for themselves. On the other hand, USD Coin's backing assets are much more likely to keep their value stable and ensure the stablecoin's value is stable in the long run. Lastly, USD Coin is mostly a symbolic token with little to no smarts, whereas TerraUSD is a complex system, which implies that much more can fail. It may be possible for its — decentralized — backing assets to be stolen in a hack. Benzinga's Take: As nearly always with blockchain technology, the safety of stablecoin systems is not simple and cannot be simply explained as one approach being better than the other. Algorithmic stablecoins attempt trustlessness, but creating such complex systems that are reliable despite the high incentive to hack them results in a significantly higher likelihood of something going wrong. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
What Terra's Meltdown Means for Centralized Stablecoins Tether and USDC
Tether's co-founder and DeFi execs weigh in on what the collapse of Terra's UST means for asset-backed stablecoins like USDT and USDC.
Jane Street Plans To Borrow $25M In USDC Crypto Via Clearpool: Bloomberg
Wall Street’s trading powerhouse Jane Street, famed for its domination in markets such as ETFs and corporate bonds, is turning to decentralized finance to borrow cryptocurrency, reported Bloomberg. Jane Street plans to borrow up to $25 million in USDC, a stablecoin pegged to the US dollar, to expand to $50 million. It will borrow from the crypto business BlockTower Capital via Clearpool, a DeFi marketplace where institutions can obtain uncollateralized liquidity from a network of lenders. Clearpool is backed by worldwide investors such as Sequoia Capital and Arrington Capital. This is the first time Jane Street is using decentralized finance to borrow crypto, a representative confirmed. “This is the first traditional financial institution on Wall Street that has made this step -- this almost opens the floodgates,” Robert Alcorn, chief executive officer of Clearpool, said in an interview. “Others are going to go from watching this space to considering it seriously.” Crypto-focused firms such as Alameda Research already use similar services like Maple Finance and TrueFi to borrow or lend capital. Unlike most other DeFi marketplaces, these platforms allow customers to abide by know-your-customer and anti-money-laundering standards. These services may also enable users to borrow at a lower interest rate. Lenders in such DeFi protocols typically earn 15% to 25% in annualized interest, Sanat Rao, a general partner at BlockTower Capital. He declined to cite the rate BlockTower will receive. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
Jane Street makes DeFi play with planned $25 million USDC loan
The funds will be borrowed from BlockTower Capital through Clearpool, which launched in March. The post Jane Street makes DeFi play with planned $25 million USDC loan appeared first on The Block.
Our allies at @binance have enabled USDC withdrawals and deposits on @Ronin_Network Expect wETH withdrawals and deposits to Ethereum to be enabled shortly. [binance.com] $ron $axs
Our allies at @binance have enabled USDC withdrawals and deposits on @Ronin_Network Expect wETH withdrawals and deposits to Ethereum to be enabled shortly. https://www.binance.com/en/support/announcement/7d3444c42d8840afb43179077c035531 $ron $axsAxieInfinity•
Stripe to Start Using Crypto’s Financial Rails for Payments Today The payments giants will use USDC and Polygon, with Twitter as its first partner.
Stripe, the payments processing giant, introduced a new function which will allow businesses to pay users in crypto using the Polygon network.The Defiant•
About USD Coin
This article discusses the current USDC price and the USDC price predictions provided by reliable sources. Can USDC reach a new all-time high in the future? What does the USDC coin technical analysis indicate? Why is it important? What will the USDC price look like in 2021-2025? Is the USDC coin a good investment right now? Let’s dive in and decide for ourselves.
USD Coin Real-Time Status
USDC current price, market cap, and volume. These variables are important indicators of the coin’s current market position. All the data, easily accessible via the Real-Time Status widget
Market capitalization is calculated by multiplying the coin’s price with its circulating supply and is used for measuring the value of a cryptocurrency.
Volume indicates the total amount of trades happening at the moment. Experts recommend looking out for a volume to market cap ratio under 1.0.
Catch up with the latest crypto data by using the widget below.
USD Coin Technical Analysis
Knowing the principles of technical analysis is essential for making the most accurate price forecasts. Technical analysis is used by professional experts to analyze and predict future price movements. Technical analysts discover previous price movement patterns and compare them to the current figures. By doing that, they make an assumption that the past pattern will occur in the future again, according to key variables. Technical analysis is the best way to make your own price forecast and determine your chances of profiting.
USD Coin Price
You can check the USDC price through CoinJoy's crypto portfolio tracker. Choose USDC from the list of coins or type its name in the search bar. Choose the number of coins, time and the date they were purchased. The algorithm will calculate the token price at the time of purchase and convert it to US dollar, based on the current value.
The token can also be added to the Portfolio. Your Portfolio does not only show the current price of the asset but your real-time losses and profits since the purchase as well. It’s a convenient way to track your holdings and always be aware of the token price changes.
How To Buy USD Coin
You can choose one or a few ways to purchase USDC. First and foremost, your wallet must support the token. Wallets like Ledger, Coinomo, Trezor support USDC tokens and allow you to store them. Locate the USDC address starting from 0x. Sign up with USDC and purchase the tokens with fiat money or other cryptocurrencies through one of the exchanges: Binance, PancakeSwap, UniSwap.
Purchase as many USDC coins as you want with any supported asset or fiats. However, you will most likely have to pay higher fees.
There are various other exchange services that may support USDC. It is recommended not to keep your coins on the exchange platform for a long time, and instead transfer them to your wallet.
USD Coin Price Prediction 2022
We have gathered the latest USD Coin price prediction results from some of the most reliable sources, namely Wallet Investor, Trading Beasts, and PricePrediction.net.
PricePrediction.net has come out with a positive price prediction for USD Coin: an average of $0.95, and a minimum of $0.798 is what holders could be anticipating in 2022.
Wallet Investor is prominent that USD Coin prices will fall, forecasting a potential bearish trend in 2022. According to the website algorithm, investors may be expecting an average of $1.01, with a potential maximum of $0.994, and a minimum of $1.001.
Trading Beasts has set the following targets for USD Coin in 2022: an average of $0, a maximum of $0, and a minimum of $0. Based on the provided data, purchasing USD Coin might not be a good long-term investment.
USD Coin Price Prediction 2023
According to Wallet Investor, USD Coin prices are estimated to show negative downtrend signs in 2023, reaching an average of $1.031, with an expected maximum of $0.967, and a minimum of $1.
Similarly, Trading Beasts indicates an average of $0, a maximum of $0, and a minimum of $0 for USD Coin.
Based on the information provided by key indicators, PricePrediction.net believes that USD Coin prices could drop next year. The website forecasts the following prices for USD Coin: an average of $0.209, a maximum of $0.238, and a minimum of $0.18.
USD Coin Price Prediction 2024
As for 2024, Wallet Investor is bearish on USD Coin. Investors should watch out for a potential average of $1.067. The website also indicates a maximum of $0.93 and a minimum of $0.998 in two years.
Trading Beasts expects a continuous negative trend for USD Coin throughout 2024. The prices are likely to range between a maximum of $0 and a minimum of $0, with an average price reaching $0.
PricePrediction.net has set an average of $0.155, a maximum of $0.19 and a minimum of $0.119 for USD Coin in two years, therefore predicting value decline for the token.
USD Coin Price Prediction 2025
In 2025 Wallet Investor views USD Coin negatively. According to the website algorithm, the expected average price is $1.109, with potential maximum and minimum prices reaching $0.997 and $0.886 respectively.
Trading Beasts is also indicating a decrease in USD Coin prices, starting from the minimum of $0 and reaching as much as $0. The expected average price is $0.
Furthermore, PricePrediction.net is seemingly frigid about USD Coin prices in 2025. The website forecasts that the price may go up to as much as $0.41. The expected average price is set at the $0.306 level, whereas the expected minimum price is $0.202.
USD Coin Price Prediction 2030
According to the long-term forecast from Wallet Investor, USD Coin has bad investment potential. The prices could reach $0.177 on average, whereas the maximum price could go up to as much as $0.181, and the minimum price could hit the $0.174 point.
Trading Beasts predicts that the bearish trend will remain strong for USD Coin in 2030. Investors could be expecting an average of $0. The maximum and minimum prices might hit $0 and $0 respectively.
Last but not least, based on the sentiment from PricePrediction.net, USD Coin prices will continue to fall in the long run, with the average price reaching the $0.432 level. The expected maximum price is $0.54 and the potential minimum is $0.324.
Predicting crypto market is challenging. It is hard to forecast the exact price movement. Before you decide to invest in the cryptocurrency of your choice, we strongly recommend learning more about the coin itself and get familiar with the project's roadmap. Remember to always do your own research.
Is USD Coin a good investment?
According to the experts' forecasts, USD Coin will be a bad investment.
Does USD Coin Have Potential?
The USDC is becoming less popular right now, gradually cryptocurrency is losing ground on Coinmarketcap's market cap ranking. Even though project has developed partnerships with some giants of the cryptocurrency industry, USD Coin forecast is negative, It has low potential.
How much will USD Coin be worth in 2022?
In 2022 the price of USDC is expected to reach $1.102, based on the forecasting from various sources.
How much will USD Coin be worth in 2023?
In 2023 the price of USDC is expected to reach $0.238, based on the forecasting from various sources.
How much will USD Coin be worth in 2024?
In 2024 the price of USDC is expected to reach $0.19, based on the forecasting from various sources.
How much will USD Coin be worth in 2025?
In 2025 the price of USDC is expected to reach $0.41, based on the forecasting from various sources.
How much will USD Coin be worth in 2030?
In 2030 the price of USDC is expected to reach $0.54, based on the forecasting from various sources.