How the USD Coin aims to bring stability to the crypto market

Today, it offers an easy-to-use platform for accessing the broader crypto economy. Is a digital asset ranked as #5 in BitCourier Cryptocurrency List with market capitalisation of £29.55 Bn. In the last 24 hours USD Coin’s trading volume exceeded £5.21 Bn. Payments Cards & Mobile is the go-to market intelligence hub for global payments news, research and consulting. Leveraging 15 years of data across 43 markets, our award-winning resources and expertise provide impartial, up to date analysis on the issues shaping the future of payments. Cryptocurrencies have been around for over ten years now, and yet despite so many dedicating time to invest in them, so few have realised the possibilities of spending it!

What is USD Coin dominates DeFi with 59% of the TVL in DeFi ($49bn). However, competition is heating up as alternative blockchains challenge Ethereum’s grip on DeFi and stablecoins. The crypto space is evolving, and Ethereum should watch out. The token is backed by a centralised entity and, therefore, arguably goes against the decentralised sentiment of cryptocurrencies. Centre, the controlling organisation, has blacklisted wallet addresses previously.

What is the easiest way to buy USD Coin?

If in doubt, seek professional advice from an FCA regulated advisor. The value of your investment may fall as well as rise and you may get back less than your initial investment. In this way, it performs just like traditional money without the volatility of other cryptocurrencies like Bitcoin. Leverage – One of the ways to maximise profits as a day trader is to use margin trading.

Meanwhile, average borrowing https://www.tokenexus.com/ are highest for USDT (c. 4%) and lowest for TUSD (c. 1.1%). The spread between US 3M treasury yields and stablecoin borrowing rates are tighter than the corresponding spread between stablecoin lending rates . Ethereum’s stablecoin dominance has been falling (currently 59%, -273bps YTD, Chart 1) while that of Tron has been rising (currently 27%, +248bps YTD). And that is not the only area where Tron is outperforming – its TVL in DeFi ($5.11bn) recently surpassed that of Binance Smart Chain ($5.09 bn), making it the second most popular DeFi blockchain by TVL . We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan.

Bitcoin options: Open interest soars above US$11bn

Still, vs the likes of Bitcoin, they share similar characteristics and are available for lending and in mining pools with variable transaction fees. Investors looking for a safe and reliable digital currency to start trading need to look no further than USD Coin. USD Coin is a highly stable digital currency, which gives it a level of certainty uncommon among other cryptos. Whether you use USD, GBP, INR or NZD to buy USD Coin, each currency will be redeemable for 1 U.S.

Is a global cryptocurrency exchange platform that currently does not operate in the US, still you are welcome to browse and find out more. While it can, like other stablecoins, be used as a safe, secure, stable and private method of purchasing crypto on exchanges, it can also be used in the real world. For instance, in March 2021, Visa announced that people would be able to settle transactions on its system using USDC. The USD coin is run by a consortium called Centre, which involves the peer-to-peer payments company Circle, in conjunction with the cryptocurrency exchange Coinbase.

Stablecoin Watch: Is Ethereum Still the Most Popular Blockchain for Stablecoins?

This would happen, Allaire said, once Circle had carried out a merger with Concord Acquisition Corp, a publicly traded special purpose acquisition company, in a deal that would see Circle valued at $4.5bn. The speed of fiat transactions also comes in for frequent criticism, as do the high fees charged to those who need to send money internationally. Overview of the key topics seen in the crypto market for February 2023. Coinbase aims to build the crypto economy to be a more fair, accessible, efficient, and transparent financial system enabled by crypto. However, Coinbase believes the way to accelerate the adoption of USDC internationally, is by establishing global parity for all users.

At the end of the day, it is still a cryptocurrency and is subject to the risks that accompany them. Thanks to its stability and backing, as of May of this year, USDC was the second largest stablecoin according to Forbes. In fact, the USDC is one of four stablecoins that combined, make up roughly 94.8% of the market today. ‘This kind of crypto coin tracks the underlying asset, making its value stable over time, at least relative to the currency it’s pegged to,’ according to Bankrate. Founded in 2012, Coinbase is a cryptocurrency exchange on a mission to increase economic freedom in the world through accessibility to the crypto economy.