Stellar Price Rises by 10% After USDC Heralds it as "Official Chain"
USDC is the second the largest US dollar-pegged stablecoin. It's coming to Stellar. Did that just cause a price boom?
USD Coin price
(USDC)
$1.00
0.00%
1h
24h
1w
1m
1y
all
$0.0000January 1 12:00 AM
5:29 AM9:40 AM1:51 PM6:03 PM10:14 PM2:25 AM
$2.7B
$400.5M
2.7B USDC
About USD Coin
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium. Coinbase customers with US dollar accounts may exchange 1 USDC for US$1.00 (and vice versa) on Coinbase in jurisdictions where USDC support is available. The graph above reflects USDC’s current and historical redemption value of US$1.00, which may not match the price of USDC on other exchanges. USDC is an Ethereum token and is the only fiat-backed stablecoin currently supported by Coinbase. Note: Coinbase only supports USDC running on Ethereum (ERC-20).
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Stablecoin supply has surged past $20 billion, driven by derivatives market
Thanks to DeFi and crypto derivatives, the market for stablecoins has grown by leaps and bounds in 2020 led by USDT and USDC. The post Stablecoin supply has surged past $20 billion, driven by derivatives market appeared first on The Block.
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