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USD Coin price, market cap on Coin360 heatmap

USD Coin(USDC)

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$1.0003
(0%)
0.00005900 BTC
Market Cap (Rank#5)
$43,123,922,847
2,543,650 BTC
Vol 24h
$296,018,360
17,461 BTC
Circulating Supply
43,109,311,832.39
Max Supply
?
11h agocryptodaily
DeFi Protocol Ankr Hit By Multi-Million Dollar Exploit
With the crypto industry’s focus on the FTX fiasco, DeFi hackers have been making merry, hitting Ankr, and as per information available, stealing $5 million. Hackers were able to exploit an unlimited minting bug. The DeFi protocol stated it is working with exchanges to mitigate the hack’s impact. Ankr Falls Victim To Exploit Ankr, a BNB Chain-based decentralized finance (DeFi) protocol, has confirmed that it has fallen victim to a multi-million dollar exploit. The attack occurred on the 1st of December and was discovered by on-chain security analyst PeckShield on the 2nd of December. Ankr confirmed the developments shortly after, stating on Twitter that hackers had managed to exploit the aBNB token. They also announced that they were working with exchanges to halt trading of the token in question. “Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.” Details Of The Hack According to the available details, the hacker was able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc) thanks to a vulnerability in the smart contract for the token. “Our analysis shows the $aBNBc token contract has an unlimited mint bug. Specifically, while mint() is protected with onlyMinter modifier, there is another function (w/ 0x3b3a5522 func. signature) that completely bypasses the caller verification to have arbitrary mint !!!” PeckShield reported that the hacker had transferred around 900 BNB, worth around $253,000 into Tornado Cash. Additionally, the exploiter also bridged USDC and ETH to the Ethereum blockchain. According to PeckShield, the hacker holds 3000 ETH and around 500,000 USDC. The 20 trillion aBNBc tokens held by the attacker make them the 13th largest holder of the token. The aBNBc token is the reward-bearing token for BNB tokens staked on the Ankr platform. Vulnerabilities In The Smart Contract Code Blockchain security firm Beosin confirmed the source of the exploit, stating that it was likely due to vulnerabilities in the smart contract code, along with compromised private keys. According to Beosin, these vulnerabilities could have emerged from a technical upgrade carried out by Ankr. “@ankr has been exploited. $aBNBc has dropped -99.5%. The hacker minted tons of $aBNBc and made a profit of 5,500 BNB (~$1.6 million). The deployer changed the implementation contract to the vulnerable contract address before the attack (possibly due to private key compromise).” A spokesperson for the security firm stated, “It is possible that the deployer’s private key was exposed in this upgrade, leading to an attacker using deployer privileges to modify the contract.” Binance Investigating The Exploit Binance, in a post on the 2nd of December, confirmed that its team was engaged with Ankr and other related parties and was investigating the matter further. It also added that no Binance user funds were at risk. “We are aware of the attack targeting @ankr’s aBNBc token. Our team is engaged with the relevant parties and @BNBCHAIN to investigate further. This is not an attack against #Binance, and your funds are SAFU on our exchange. This thread will be updated should there be any updates.” ANKR And BNB Price Drops As a result of the developments, both ANKR and BNB saw a considerable drop in price. At the time the news of the exploit broke, the ANKR token dropped around 6.6%, falling to $0.0211. However, it has since recovered and is currently trading at $0.0216. The token is already over 90% down from its all-time high of $0.213. The BNB token also dropped, falling by 3.1%. However, this decline was attributed to a wider decline in the crypto markets. DeFi hacks had shot up drastically over the past couple of months, with October becoming the worst month in DeFi history. Several DeFi protocols, such as the Ethereum Alarm Clock Service, Polygon’s QuickSwap, Mango Markets, and others, fell victim to exploits. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
12h agocoindesk
DeFi Protocol Ankr Exploited for Over $5M
The attacker was able to mint 6 quadrillion aBNBc tokens, which they eventually turned into around 5 million USDC
1 day agocryptodaily
NFT Trading Goes Live On Uniswap
Uniswap Lab’s NFT aggregator platform went live earlier today with a $5 million USDC airdrop to Genie users. Uniswap Announces Aggregator Tool Uniswap finally launched its NFT aggregator platform, where users will be able to conduct NFT trading from across multiple marketplaces. The team announced the launch of its aggregator on Twitter, saying, “NFTs are officially live on Uniswap!! Starting today, you can trade NFTs across major marketplaces to find more listings and better prices. We're also airdropping ~$5M USDC to historical Genie users & offering gas rebates to the first 22,000 buyers.” The company had recently successfully conducted its Series B funding round for new offerings, including the NFT aggregator tool. Better Prices, More Options The aggregator tool will allow Uniswap users to trade digital collectibles across leading NFT marketplaces like OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20. The team has claimed that users will be able to access the widest range of NFTs at the best prices as the Uniswap platform has 35% more listings than any other marketplace. In addition, the platform has claimed that gas fees will be 15% lower than other NFT aggregators thanks to its new open-sourced Universal Router contract. Furthermore, the first 22,000 users of the aggregator will also receive discounts on gas fees. The team has also stated that all the front-end code has been open-sourced, making it the first NFT platform to do so. Genie Holders To Receive Funds The decentralized crypto exchange had previously acquired the NFT marketplace aggregator Genie in June. As per the announcement, the firm will give away funds amounting to $5 million USDC to historical Genie users to welcome them into the Uniswap family. The distribution of these funds will be based on a snapshot taken on April 15 and across two tier of recipients. Wallets that completed more than one transaction before the snapshot will receive $300 worth of USDC, while the wallets that held the Genie:Genesis NFT will receive $1000 worth of USDC. Interoperability Between NFTs And ERC-20 The team also released a more in-depth statement on Twitter, addressing the intention behind building on the interoperability between NFTs and ERC-20 tokens. “NFTs and ERC-20 tokens have largely existed as two separate ecosystems within crypto, but both are essential to growing the digital economy. Launching NFTs on Uniswap is our first step in building more interoperable experiences between the two.” The statement also claimed that the aggregator was built to deliver better prices, faster indexing, safer smart contracts, and efficient execution. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2 days agocryptopotato
Uniswap Launches NFT Trading, $5 Million Airdrop Available for Claim
Genie users who completed over one trade before April 15, 2022 will get $300 worth of USDC, while those owning a Genie: Genesis NFT - $1,000 in USDC.
6 days agocryptopotato
Circle Warns About Scammers Baiting USDC Users
During the second quarter of the year alone, CertiK registered 290 phishing attacks, up 170% from 106 in the first quarter.
7 days agocointelegraph
Polkadot incentivizes its community to fight scams through an “anti-scam bounty”
Polkadot said it rewards community members in a consistent manner with bounties paid in USDC.
8 days agocryptodaily
Fenbushi’s Bo Shen Hacked For Millions
Hackers targeted crypto venture capitalist Bo Shen’s private Ethereum wallet and drained it of crypto worth $42 million. Bo Shen Loses $42M On November 10, the founder of the blockchain-focused venture capital firm was targeted in a hack, which siphoned off millions of dollars worth of digital assets from his wallet. The stolen assets consist of stablecoins and cryptocurrencies. Bo Shen, who is one of the founding partners at Fenbushi Capital, has disclosed that his Ethereum wallet was drained of funds worth $42 million. According to blockchain security firm Beosin, the attack was a result of a compromised private key that the hacker exploited. The month of October witnessed a series of hacks and wallet exploits resulting in losses of millions of dollars of digital assets, earning it the title of “Hacktober.” The current exploit of Bo Shen’s private wallet is enough to make the community nervous, especially in light of the terrible market conditions. Mostly Stablecoins Stolen; FBI Notified According to onchain data from the wallet, around $38 million of the assets stolen from Bo Shen’s wallet were in the stablecoin USDC. The remaining assets include Tether (USDT), Uniswap (UNI), Reputation (REP), and Liquity (LQTY). Bo Shen shared the news of the attack on Twitter and also disclosed that the incident has been reported to local law enforcement, along with lawyers and the FBI. He tweeted, “A total of 42M worth of crypto assets, including 38M in USDC were stolen from my personal wallet ending in 894 in the early morning of November 10 EST. The stolen assets are personal funds and do not affect on Fenbushi related entities…Civilization and justice will eventually prevail over barbarism and evil. This is the iron law of human society. It’s just a matter of time.” SlowMist’s Analysis The above is all the information shared by the venture capitalist, who did not reveal any further details of the hack. However, blockchain security firm SlowMist looked into the situation and discovered that Shen was using a non-custodial Trust Wallet and that the wallet seed phrase was compromised. They have also clarified that the security issue does not lie with Trust Wallet. The SlowMist team also uncovered the affected addresses for Shen’s ETH, TRX, and BTC funds and revealed that most of the funds from these addresses were sent to the crypto-swapping platforms ChangeNOW and SideShift. They tweeted, “4.13 $BTC + 100,000 $USDT were deposited to ChangeNOW; 152,673.3397 USDT was deposited to ChangeNOW; 200 DAI + 386,126 USDT were deposited to SideShift.” SlowMist has also issued a statement asking the attackers to return the funds immediately. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
9 days agocointelegraph
Tether vs. USD Coin on-chain data reveals two very different stablecoins
The market cap of Tether dropped amid the FTX fiasco while USD Coin supply increased by $2 billion.
9 days agocryptodaily
Mango Markets Hacker’s Plan To Short CRV Backfires
A crypto trader responsible for the Mango Markets exploit has seen his short position liquidated, thanks to a series of wild price swings in the CRV price. The trader, identified as Avraham Eisenberg, gained notoriety when he described the Mango Markets hack as a “very profitable trading strategy.” A War On Curve On-chain watchers noticed on Tuesday that Eisenberg had borrowed 88 million CRV tokens from lending protocol Aave and sold them in the market over the past week. The pressure generated by this event saw the price of CRV drop to $0.40, enabling him to borrow further CRV from Aave’s Curve pool. Market watchers speculated that Eisenberg was targeting Michael Egorov, Curve founder, with his short-selling strategy. Egorov holds several loans on Aave, backed by CRV as collateral, and a liquidation price set at $0.25. If the CRV price reached this level, it would trigger Aave’s liquidation contract, selling Egorov’s CRV to the market and pushing the price even lower. Other Whales Step In Other whales caught wind of Eisenberg’s attack on Curve and Egorov and began opening long positions to increase the CRV price and shore up the token’s value. Andrew Kang, a member of PleasrDAO, tweeted, “First, he came for Mango, and I did not speak out. Now, he tries to hunt the loan of one of the godfathers of DeFi, and that’s when the foot is put down to defend.” As a result of these long positions, Curve’s price gradually increased. Short Position Liquidated With the CRV price increasing as a result of the long positions opened by other whales, CRV eventually hit Eisenberg’s liquidation level, which was set at just above $0.60. When the price hit this point, Aave’s liquidation mechanism began liquidating the USDC, which he had put up as collateral to buy back the CRV tokens from the market and pay off the debt. However, the liquidation was cut short as others who had gone long began taking profits at this level. At the time of writing, Eisenberg’s position had started liquidating again, with the CRV price at $0.61. A Loss for Eisenberg? Many marked this episode as a loss for Eisenberg. However, others remained skeptical, speculating that he was attempting to put the market in a false sense of security before revealing his plan. Others have speculated that he could be maintaining a larger off-chain position on CRV and intended for his Aave loan to be liquidated all along. Some market watchers maintain that Eisenberg is just biding his time before taking another crack at the $0.25 liquidation price. A more controversial theory is that Egorov and Eisenberg planned the entire thing to generate interest in the Curve protocol. This is due to the timing of Egorov publishing the code for Curve’s upcoming stablecoin on GitHub earlier in the day. The Mango Markets Hack Eisenberg was revealed to be the one who engineered the Mango Markets hack, using price manipulation strategies to drain the Solana-based protocol of $100 million. He then cut a deal with the Mango Market’s team and returned half of the stolen funds to cover user losses. He called the exploit a “highly profitable trading strategy,” prompting a furious backlash from the DeFi community, who criticized his actions and their negative implications for the ecosystem. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
9 days agocryptodaily
Mango Markets Hacker’s Plan To Short CRV Backfires
A crypto trader responsible for the Mango Markets exploit has seen his short position liquidated, thanks to a series of wild price swings in the CRV price. The trader, identified as Avraham Eisenberg, gained notoriety when he described the Mango Markets hack as a “very profitable trading strategy.” A War On Curve On-chain watchers noticed on Tuesday that Eisenberg had borrowed 88 million CRV tokens from lending protocol Aave and sold them in the market over the past week. The pressure generated by this event saw the price of CRV drop to $0.40, enabling him to borrow further CRV from Aave’s Curve pool. Market watchers speculated that Eisenberg was targeting Michael Egorov, Curve founder, with his short-selling strategy. Egorov holds several loans on Aave, backed by CRV as collateral, and a liquidation price set at $0.25. If the CRV price reached this level, it would trigger Aave’s liquidation contract, selling Egorov’s CRV to the market and pushing the price even lower. Other Whales Step In Other whales caught wind of Eisenberg’s attack on Curve and Egorov and began opening long positions to increase the CRV price and shore up the token’s value. Andrew Kang, a member of PleasrDAO, tweeted, “First, he came for Mango, and I did not speak out. Now, he tries to hunt the loan of one of the godfathers of DeFi, and that’s when the foot is put down to defend.” As a result of these long positions, Curve’s price gradually increased. Short Position Liquidated With the CRV price increasing as a result of the long positions opened by other whales, CRV eventually hit Eisenberg’s liquidation level, which was set at just above $0.60. When the price hit this point, Aave’s liquidation mechanism began liquidating the USDC, which he had put up as collateral to buy back the CRV tokens from the market and pay off the debt. However, the liquidation was cut short as others who had gone long began taking profits at this level. At the time of writing, Eisenberg’s position had started liquidating again, with the CRV price at $0.61. A Loss for Eisenberg? Many marked this episode as a loss for Eisenberg. However, others remained skeptical, speculating that he was attempting to put the market in a false sense of security before revealing his plan. Others have speculated that he could be maintaining a larger off-chain position on CRV and intended for his Aave loan to be liquidated all along. Some market watchers maintain that Eisenberg is just biding his time before taking another crack at the $0.25 liquidation price. A more controversial theory is that Egorov and Eisenberg planned the entire thing to generate interest in the Curve protocol. This is due to the timing of Egorov publishing the code for Curve’s upcoming stablecoin on GitHub earlier in the day. The Mango Markets Hack Eisenberg was revealed to be the one who engineered the Mango Markets hack, using price manipulation strategies to drain the Solana-based protocol of $100 million. He then cut a deal with the Mango Market’s team and returned half of the stolen funds to cover user losses. He called the exploit a “highly profitable trading strategy,” prompting a furious backlash from the DeFi community, who criticized his actions and their negative implications for the ecosystem. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
10 days agocryptodaily
Djed Stablecoin Launching on Cardano After Summit Announcement
COTI CEO Shahaf Bar-Geffen has appeared on stage at the annual Cardano Summit in Lausanne, where he confirmed that the company’s algorithmic stablecoin will launch in January after the conclusion of a full audit. “Djed going to public mainnet is a great achievement, following a lot of hard work from IOG (Input Output Global) and COTI,” said Bar-Geffen. “Recent market events have proven once again that we need a safe haven from volatility, and Djed will fulfil this role in the Cardano network. “We need a stablecoin that is decentralized and has on-chain proof of reserves: Djed is just that and I see it becoming the top stablecoin on the Cardano network.” Slow and Steady Approach COTI’s announcement of a launch date was teased several days ago, and the hype has been steadily building for Djed, an over-collateralized algorithmic stablecoin which will be integrated out of the gate with various COTI partners, not least DEXs, launchpads, wallets and lending protocols. According to Bar-Geffen, further partnerships will also be announced throughout 2023. The decentralized exchanges integrated with Djed from January, which include AdaSwap, Cardax, SundaeSwap and ADAX, will offer increased rewards to users who supply liquidity using the COTI-powered stablecoin. Djed will include Vasil hard fork compatibility, with future versions expected to introduce dynamic fees and prices and also support staking. An enterprise-grade layer-1, COTI has taken a slow-and-steady approach to the issuance of Djed, which was first announced at the 2021 Cardano Summit in Wyoming. On the main stage at this year’s event, Bar-Geffen stressed that COTI was keen to ensure several rigorous stress tests had been completed before Djed debuted on the Cardano mainnet, and that $ADA liquidity had gradually been provided to the Djed smart contract in line with this approach. While other blockchain networks have dominant dollar-pegged stablecoins, most notably USDT (Tether) and USDC (USD Coin) on Ethereum, Cardano has not benefited from such an ecosystem to date. As the only blockchain network to have conducted KYC/AML on all users since launching in 2017, COTI believes it is well placed to issue a stablecoin that is dependable, regulation-ready, and highly secure. Built on Cardano and powered by COTI, Djed is essentially an algorithmic stablecoin protocol that functions like an autonomous bank, buying and selling stable assets based on a price range set by a target price. Pegged 1:1 with the US dollar, Djed is backed by a base coin ($ADA) and uses $SHEN as a reserve coin. The algorithmic underpinnings of the asset relies on a collateral ratio within the range of 400-800% for $DJED and $SHEN in order to guarantee that there is sufficient $ADA in the pool. Cardano founder Charles Hoskinson has long touted Cardano’s potential as a DeFi powerhouse. Last year, he even introduced the Cardano DeFi Alliance (CDA) with the goal of creating a robust and dynamic ecosystem for the next wave of DeFi innovation. With the forthcoming launch of Djed, not to mention another US-pegged stablecoin, USDA, that vision is gradually coming into clearer focus. In light of recent market turbulence, 2023 is shaping up to be an interesting year for crypto in general – and certainly for Cardano. Not only will the latter’s DeFi ecosystem be battle-tested for the first time, but Hoskinson recently announced the release of a new privacy-centric network, Midnight, underpinned by zero-knowledge-proof technology. Whatever happens with Midnight, January’s launch of Djed will be a watershed moment for Cardano – and in particular its DeFi ambitions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
15 days agocryptopotato
Multiple Exchanges Delist USDC and USDT on Solana
Exchanges like Binance, BitMEX, and OKX are limiting deposits and withdrawals for Solana’s top stablecoins, without explanation.
15 days agocoindesk
Crypto Exchanges Binance and OKX Suspend Support for Solana Versions of USDT, USDC Stablecoins
Binance and OKX did not explain the reasons behind the move, which created confusion in the crypto industry.
15 days agocointelegraph
Binance, OKX and Bybit suspend USDT and USDC deposits on Solana
The Solana cryptocurrency continues crashing amid the FTX crisis, plummeting 7% on the news of exchanges halting deposits in Solana-based stablecoins.
15 days agocointelegraph
Bybit releases reserve wallet addresses amid calls for transparency
The wallets seem to indicate that over $1billion worth of BTC, USDT, ETH, and USDC are held by the exchange.
16 days agocointelegraph
Circle marks a possible $3B loss from Binance stablecoin conversions
Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX.
17 days agocoindesk
USDC Stablecoin Issuer Circle Says Businesses Can Accept Apple Pay
The addition will help crypto businesses by making it easier to take payments, the company said.
18 days agocryptodaily
Binance Reveals It Has Over $70 Billion in Reserves
After the chaos that unfolded this past week with FTX, many exchanges and firms have taken a pledge towards transparency and have revealed the balances of their hot and cold wallets. Binance, who was the first to advocate for this, has revealed that it has over $70 billion in its reserves. Earlier in the week, Binance CEO, Changpeng “CZ” Zhao, announced that his exchange was to implement a Proof-of-Reserve mechanism to provide “full transparency” using Merkle Trees and emphasized the importance of transparency. In a show of good faith, Binance disclosed its hot and cold wallet balances in a recent blog post. according to what Binance published, the exchange holds $70,675,000,000 in its reserve. The exchange announced that it will share a full audited report soon, but did publish its major tokens on BTC, ETH, BNB, and TRX networks. The exchange holds roughly 475,000 BTC, 4,800,000 ETH, 17,600,000,000 BUSD, 601,000,000 USDC, and 58,000,000 BNB. Data from crypto analytics firm Nansen reveals that 32.99% of the exchange’s assets are in BUSD, 22.92% in USDT, 10.22% in ETH, 8.97 in BTC, 8.60% in BNB, and 16.29% in other tokens. Binance’s decision to publish the contents of its reserves was spurred on by the massive downfall of FTX and its former CEO, Sam Bankman-Fried (SBF). The chaos started when reports emerged that most of FTX’s sister firm, Alameda Research’s funds were held in FTT. Questions were raised around its balance sheet and CZ announced that the exchange would dump its position in FTT tokens. While this took place, it triggered a surge in outflows as more and more customers wanted to withdraw their funds from FTX resulting in a drop in its stablecoin reserves. The exchange then apparently stopped processing withdrawals, but this was denied by SBF. Binance proceeded to announce that it would acquire FTX pending due diligence. After an investigation into the firm’s finances and internal data, Binance backtracked and decided not to go through with the deal. FTX thereafter announced that it had filed for Chapter 11 bankruptcy and SBF stepped down as CEO. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
21 day agocoindesk
Cuáles son las tenencias de FTX y Alameda en sus billeteras públicas de Ethereum
Las tenencias más altas de Alameda son de USD Coin, mientras que las de FTX continúan siendo de su propio token, FTT.
21 day agocoindesk
Here’s What FTX and Alameda Now Hold on Public Ethereum Wallets
Alameda’s largest holdings are in USD Coin, while FTX’s biggest holding remains its own FTT token.
21 day agocryptodaily
Midas.Investments Migrates to Ethereum to Build a More Robust Ecosystem
Midas.Investments, one of the functional CeDeFi platforms in the Web3.0 ecosystem, has recently migrated from the Fantom blockchain to the Ethereum Network. The move signifies the platform's bold decision to build a more robust ecosystem with enough capacity to service the platform’s growing user base. Why switch to Ethereum? Ethereum is the pioneering smart contract blockchain network. It has a robust ecosystem of over 3000 decentralized applications (DApps), and over 500 platforms offering decentralized finance services on the blockchain. While Ether, the network's native token, has slumped in price compared to its peak in November last year, the protocol has the second largest market capitalization pegged at $183 billion at the time of writing. It also has the largest Total Value Locked (TVL) among its peers, pegged at $31 billion per data from DeFiLlama. Upon the migration, Midas will be able to boost liquidity, enhance the utility of the MIDAS token for the benefit of all its users, and interact with more DApps while still maintaining good energy efficiency, considering the PoS nature of the protocol. "Given the active development of the Ethereum ecosystem — including the increasing number of decentralized applications and drawing in users and developers — our team has decided to migrate MIDAS from Fantom to Ethereum. This migration will open up new opportunities for the continued development of the $MIDAS token in the DeFi ecosystem, further expanding on its utility," said Iakov Levin, the platform's CEO and founder. Passive income for Web3 investors While still evolving, Midas.Investments has carved a niche as a reliable platform for Web3.0 investors to earn passive income. The platform harnesses the simple and accessible nature of centralized finance and the innovation that decentralized finance offers to deliver value to its users. With such customized products as fixed yield strategies, automated portfolios, and CeDeFi strategies, other users in the Ethereum ecosystem can also benefit from the innovation that Midas has built its business ideologies on over the years. "Since the launch of the MIDAS token in September 2018, our team has worked incessantly to improve its utility and integration into Midas' suite of products and the DeFi ecosystem," Levin added. Building on the Midas.Investments Positive Growth Track Midas.Investments is present in its innovation to serve every one of its users. The upgraded platform's token has several benefits it offers its holders, including staking, Midas Boost Tiers, Payout Split, liquidity, and governance. As an ERC-20 asset, the new MIDAS token will continually serve as the protocol's utility coin and a governance asset for future products the platform will introduce. Besides helping holders to boost returns on fixed yield strategies, Midas plans to develop a DeFi platform where users can make proposals for tokenized CeDeFistrategies and partnerships for community voting. Meanwhile, the MIDAS token is on the rise, with a market cap of over $100 M, and the number of users who stake it on the platform is more than 6,900. The total amount of staked funds in USD equivalent on the platform is about 70 million USD (more than 1.8 million MIDAS tokens). Per the migration period, current MIDAS token holders will not need to take any action, as Midas developers will handle all conversions from Fantom to Ethereum on the backend. According to the platform’s representatives, the migration is on schedule. To keep up with the latest news, visit the official website or follow Midas.Investmentson Twitter or Discord. About Midas Investments Midas.Investments is a custodial CeDeFi crypto-investment platform offering market-leading yields on an array of cryptocurrencies, including BTC, ETH, and USDC. Its key mission is to provide a hybrid custodial solution for investors seeking to optimize their crypto investments, generate passive income and build a strong portfolio. To achieve this, Midas.Investments combines a level of central management with decentralized finance (DeFi) solutions, resulting in the utility called centralized DeFi(CeDeFi). Through the platform, users get access to a vast range of crypto-assets, swap features, and yield-automated portfolios, which makes Midas the go-to place for those wishing to build a robust yield-generating portfolio. In under four years since its launch, Midas.Investments has attracted more than 10,000 investors worldwide and more than 250 million dollars in Assets Under Management (AUM). Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
22 days agocoindesk
Tether Dominates Curve's 3pool Liquidity With DAI, USDC Accounting for Just 15%
Tether accounts for 85% of the total liquidity in Curve's 3pool.
22 days agocoindesk
Crypto.com Halts Solana USDC and USDT Deposits, Withdrawals
The crypto trading platform cited “recent industry events” in an email to users announcing the suspension.
23 days agocryptodaily
Circle CEO Calls FTX Collapse Crypto’s Lehman Brothers Moment
Co-founder and CEO of Circle, Jeremy Allaire, stressed that a lot in the crypto industry needs to change, given the recent developments surrounding the FTX exchange. Altaire called the recent crisis crypto’s own Lehman Brothers moment, referring to the event that set off the unprecedented 2008 financial crisis. Crypto’s “Lehman Brothers” Moment Jeremy Allaire, the co-founder and CEO of Circle spoke about the ongoing FTX crisis, which has again thrown the crypto markets into turmoil and uncertainty. He called it crypto’s “Lehman Brothers” moment and expressed disappointment that a technology created in response to that exact moment has come full circle. “Finally, as someone who’s been involved in this industry for ten years, it is disappointing that a technology that was spawned in reaction to the Lehman Bros. moment of 2008 has given rise to its own version of the same. Lehman Brothers, of course, helped set off the 2008 global financial crisis.” Circle Not Impacted Allaire also added that Circle’s USDC stablecoin remained unaffected by the crisis, despite the prevailing uncertainty in the crypto markets. Circle’s USDC is among the largest stablecoins in the crypto markets, and any contagion from the ongoing crisis that could impact it would be catastrophic. However, Allaire reassured users and market watchers that Circle had been regulated in many areas of the world since 2014. He further added that the stablecoin is fully backed by cash and government treasury bonds. Allaire also added that USDC has detailed transparency records and is trusted by top asset managers and custodians around the globe. “For Circle, we have always tried to operate with great trust and transparency. We’ve been regulated in many parts of the world starting from 2014. We’ve sought to build a culture of compliance and strong risk management and regulatory engagement.” He further added, “Our focus has always been on how we can harness crypto and blockchains to increase the utility value of money and build a financial system that is more open, inclusive, transparent, and accessible to all.” The FTX Crisis Allaire made these comments against the backdrop of Binance announcing that it would purchase FTX following liquidity issues amidst the collapse of its native FTT token. The FTT token has lost over 80% of its value since the Binance CEO announced that the world’s largest exchange would sell its entire FTT token holdings, effectively starting the chaos. The Circle CEO also added that the past bull market introduced value that was entirely speculative in nature without looking at the utility, which according to Allaire, was non-existent. He further added that the current market downturn has highlighted deep-rooted issues in the crypto ecosystem, especially when it comes to transparency, counterparty visibility, and opaque companies that have their balance sheet filled with speculative tokens. Time To Move To A Utility Value Phase Allaire urged the crypto industry to move on from this speculative nature into what he called the “utility value phase,” which depends on added transparency. He added that he believes the infrastructure for such a transition is already in place. He also agreed with Coinbase CEO Brian Armstrong, who stated that the US’s lack of regulatory clarity and guidelines had encouraged a riskier, speculative environment, causing companies to operate offshore. According to Allaire, this created offshore regulatory arbitrage, creating “global hydra companies” without a known location. These companies, according to Allaire, avoided repercussions and should be held to better accountability. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About USD Coin

The live price of USD Coin (USDC) today is 1.0003 USD, and with the current circulating supply of USD Coin at 43,109,311,832.39 USDC, its market capitalization stands at 43,123,922,847 USD. In the last 24 hours USDC price has moved 0.000275 USD or 0.00% while 226,510,660 USD worth of USDC has been traded on various exchanges. The current valuation of USDC puts it at #5 in cryptocurrency rankings based on market capitalization.

Learn more about the USD Coin blockchain network and how it works or follow the price of its native cryptocurrency USDC and the broader market with our unique COIN360 cryptocurrency heatmap.

Launched in October 2018 by the Centre Consortium, USD Coin (USDC) is a fiat-collateralized (fiat and equivalent instruments) stablecoin which is pegged to the US Dollar at 1:1 ratio. The Centre Consortium comprises two founding members: Circle, a global financial technology firm, and Coinbase, the widely-popular US-based cryptocurrency exchange. It is currently issued and made available on multiple blockchain networks.

Like other major stablecoins, USDC’s main aim is to serve a couple of important purposes – one, to provide a stable means of value storage during volatile market conditions and two, to offer easy conversion between digital and fiat currency. 

Unlike its counterparts like USDT and UST, USDC coin has eluded controversy. In fact, transparency and strong governance are believed to be the two major advantages USDC coin has over competitors. Its issuers are fully licensed and regulated financial institutions that are required to maintain reserves equal to the number of USDC coins in circulation and must report their holdings on a regular basis. Grant Thornton LLP, a prominent accounting firm issues monthly reports in this regard.

USDC price

Being a stablecoin, USDC price is expected to maintain a stable $1 level at all times. That said, just like other stablecoins, USDC price is vulnerable to mild fluctuations, whenever there are noteworthy changes in the coin’s demand and supply. For instance, if the crypto market is in a bullish trend, everyone invests in speculative crypto assets and the demand for stablecoins like USDC goes down. The opposite happens in a bear market.

Nonetheless, barring a few exceptions, USDC price has managed to stay mostly in the vicinity of $1 ever since its launch. According to our USDC live price chart, the coin reached its all-time high of $1.17 on May 8, 2019, while its all-time low stood at $0.89 on May 19, 2021.

As USDC coins are minted and burnt on a continuous basis, there’s no specific total or maximum supply of these tokens. As a result, USDC’s market cap also keeps changing from time to time.

How USDC works

USDC is the first fiat-backed stablecoin launched by the Centre Consortium. It was initially launched on the Ethereum blockchain, as an ERC-20 token, and later on multiple blockchains. Users who wish to buy USDC directly from Centre, must use the web application or platform maintained by their licensed token-issuer. You can deposit fiat funds to the token issuer’s account, and the latter then executes a series of commands to mint USDC coins equivalent to the deposited funds. Once issued, you can use your USDC coins any which way you deem fit.

The redemption of USDC coins happens through a reverse process. The USDC coins are burnt by the licensed token-issuer, and the corresponding funds are credited back to your account from fiat reserves.

The non-controversial and transparent nature of USDC has given it plenty of success over the years, making it as of writing the second-largest stablecoin in the world, by market cap. USDC coin is used widely across the crypto industry today, including by well-known crypto exchanges, service providers, app developers and wallets.

USDC news, updates and highlights

In an important USDC news, the stablecoin received a major boost in Aug 2021, when Crypto.com, one of the top crypto exchanges in the world, enabled both USDC deposits and withdrawals on its platform. This was because of Crypto.com’s partnership with the USDC issuer, Circle.

According to a more recent USDC news shared on Circle's official website, USDC coin passed the $50 billion market cap for the first time since its launch on Jan 31, 2022. As a result, it came a step closer to USDT, the front-runner in the stablecoin marketplace. 

Frequently asked questions about USDC

  • Can I mine or stake USDC?

USDC can neither be mined nor staked. However, you can purchase USDC coins from a licensed USDC issuer or a crypto exchange.

  • Which are the best wallets for USDC storage?

Some of the top USDC wallets are Atomic Wallet, Guarda Wallet, MetaMask, Ledger, Exodus and Trust Wallet. You can find more on this page on Center’s official website.

  • What can you do with USDC coins?

You can use your USDC coins to pay for goods and services at various merchant establishments. USDC coins can also be traded for other popular crypto assets like BTC, ETH, ADA, SOL etc. USDC can be also be lent through a range of DeFi products, to earn yield.

  • Where can you buy USDC?

Retail users can easily buy USDC by selling typical crypto assets on reputable crypto exchange platforms like Binance, OKX and more.

USD Coin Price1.0003 USD
Market Rank#5
Market Cap43,123,922,847 USD
24h Volume296,018,360 USD
Circulating Supply43,109,311,832.39 USDC
Max SupplyNo Data
Yesterday's Market Cap43,022,946,000 USD
Yesterday's Open / Close0.999725 USD / 1.00 USD
Yesterday's High / Low1.0014 USD / 0.998309 USD
Yesterday's Change
0.00% ( 0.000275 USD )
Yesterday's Volume226,510,660 USD
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