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NewsBTC 2022-08-24 16:08:24

Want to Hodl USDC? Check These Indicators First To Ease Doubt

USD Coin (USDC), a stablecoin developed by Circle, has suffered a great deal from frequent price volatility in the cryptocurrency market. USDC signals drop recently due to massive sell-offs USD Coin exhibits extreme volatility USDC’s weekly mean transaction volume peaks at three-year high In actuality, USDC whale addresses likewise appeared to be sending out signals that were identical. For instance, the signals for USD Coin have been dropping recently. Simply put, subsequent sell-offs and market events have decreased stablecoin’s market capitalization. According to CoinMarketCap, USD is now trading at $1.00 or up by 0.01% as of this writing. Related Reading: Litecoin (LTC) Near-Term Route Could Be Determined By This Factor Limit Losses With This Stablecoin With the help of stablecoins like Circle [USDC], Tether [USDT], and Binance USD [BUSD], investors can limit their losses. These dollar-pegged cryptocurrencies give certain investors the opportunity to stake heavily once the market declines. As a result, it would have been anticipated given the condition of the cryptocurrency market that several investors would have stable funding in stables. These predictions may not be accurate, though. In a report published on August 22 by CryptoQuant analyst BinhDang, it is stated that the top three stablecoins’ spot exchange reserves are in inferior condition, with USDC leading the perilous situation. Related Reading: Elrond...

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