Just over two months or approximately 83 hace días, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 marca de mil millones, but this week the crypto asset’s market valuation is around $48.82 billion.
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Following Tether’s Recent Stablecoin Reduction, USDC’s Market Cap Drops 12%
In mid-June, Bitcoin-Tidings.com Noticias reportado on the largest stablecoin asset atar (USDT), como USDT’s saw more than $12 billion erased from the market cap in two months and at that same time, usd coin’s (USDC) market cap rose by 9%.
Sin embargo, USDC’s market cap has shrunk a great deal during the last 83 días, as it has dropped by $6.7 billion since Julio 7, 2022. En el momento de escribir, a 4:15 pm. (hora del Este) on Wednesday afternoon, USDC’s market valuation is $48.82 billion and on July 7, it was much higher at roughly $55.52 mil millones.
USDC’s market cap today is under the $50 billion zone but for most of 2022, the stablecoin’s market valuation remained above that region. En febrero 1, 2022, USDC captured the $50 marca de mil millones, in terms of market capitalization, and it remained above that region until April 17.
After May 13, USDC once again reclaimed a market valuation above the $50 billion zone, and it remained that way for roughly 130 consecutive days. While USDC’s market valuation shrunk by 12.05% durante el último 83 días, 6.6% of the loss was erased from the market cap during the past 30 días.
USDC’s market cap drop follows the company’s recent partnership con Robinhood Markets, but it also follows the recent auto-conversion moves by Binance and Wazirx. Both Binance and Wazirx auto-converted their customer’s USDC holdings (and other stablecoins) en BUSD if they did not withdraw the USDC by a specific date.
Este Dia, en septiembre 28, statistics indicate that USDC has roughly $4.31 billion in 24-hour global trade volume. The stablecoin’s market cap dominance represents 4.985% of the crypto economy’s $983 billion in fiat value. USDC’s top trading pair today is tether (USDT) as it accounts for 32.25% of today’s usd coin trades.
Tether is followed by EUR (27.16%), Dólar estadounidense (22.56%), and GBP (6.51%) in terms of USDC’s top pairs on Wednesday. Stablecoins like tether (USDT) and usd coin (USDC) have seen a significant rise in euro y pound trading pairs since both fiat currencies started to slide against the greenback.
What do you think about USDC’s market valuation sliding by more than 12% during the past 83 days and 6.6% sobre el último 30 días? Let us know what you think about this subject in the comment section below.
Créditos de imagen: Shutterstock, pixabay, Wiki Commons
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