Total Marketcap: $ 111,111,111
Change 24h: 22,222,222,222
Volume 24h: 3,333,333
Bitcoin dominance: 44 %
Crypto Info, Price, Review and Analysis
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USD Coin - USDC logo high resolution

USD Coin (USDC)

Stable coin backed by Coinbase

USD Coin Price 1 Year
$ 1.003101
0.39 %
Market Cap: $ 393 M

5 Years

1 Year

3 Months

30 Days

7 Days

24 Hours

USD Coin Explained

Introduction to USD Coin

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4.2

What problem does USD Coin solve?

Name: USD Coin

Symbol: USDC

After the crypto bull-run of 2017 and the havoc wrecked on the crypto-markets in early 2018, the crypto-community turned their attention towards the high-volatility issue of the crypto-currencies. It was high-time something was done to ensure that the markets are not manipulated in any way and to ensure that some mechanism is there to safeguard it against the rapid fluctuations in the crypto-markets. As a result, the concept of stablecoins gained momentum. A USD Coin tries to amalgamate the benefits of the cryptocurrencies with the stability of the fiat currencies. It lets its users transfer money quickly all around the world while maintaining its value to $1

CryptoCoin.News: Goldman Sachs Launches A New Crypto – The Circle USD Coin

What is USD Coin

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4.5

What does the cryptocurrency USD Coin actually do?

The actual product is a crypto-token whose value is backed by the US Dollar. It is already being offered on different exchanges, including Coinbase. This doesn’t mean that the tokens are just created out of one’s own will. Rather, every USD token that is released into the markets must have a US dollar stored in the reserves at the back end. The reserves must be looked after by the issuing companies and audited frequently. This process is known as tokenization

Who is behind USD Coin

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4.3

What team is working to make USD Coin successful?

USD Coin has some leading cryptocurrency giants backing it. It is a joint-venture between Coinbase and Circle.

Talking about the underlying development, it is using the stablecoin framework designed and developed by Centre.

USD Coin Development

USD Coin Code Progress Analysis

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4.2

How did much the USD Coin developers work on their coin over the last year?

The technology and the underlying framework for the USD Coin were developed by Centre. Their stablecoin framework allows fiat currencies, like the US Dollar, to interact with smart contracts, thus providing a means for the developers to use real-world currencies in blockchain applications.

USD Coin Community

USD Coin Public Interest

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3.2

How many people did search on Google for USD Coin indicates how many new people first heard from USD Coin

Search Engine: Google.com

Region: Worldwide

Searchterm: USD Coin

Peak Popularity: 10. May 2021

From the price valuation point of view, USD Coin will not show any variation in its price, because essentially it is only a reflection of a US Dollar. The price of USD Coin will, therefore, stay at $1 for years to come. Commenting on its usage, USD Coin will surely have its popularity increased in the coming years. This is largely because the crypto-community has seen a trend-shift towards the use of stablecoins recently.

There are no projects under USD Coin. This is because USD Coin, in itself, is not an operating company. Circle and Coinbase might announce some development projects to enhance the working of USD Coin and increase its user-base.

USD Coin is limited because it is a stable-coin. It does not hold much potential in terms of return on investment as its price will stay at $1 US. However, it has the potential to become the leading stablecoin that will be used in different applications.

Google Trends is a tool that shows how many people search for a specific search keyword worldwide compared to its peak. The more people search for USD Coin on google, the higher the Google Trends curve rises. The Google Trends search data is based on the search keyword USD Coin USD Coin had its peak interrest 1 ago. At that time, more people searched for USD Coin than anytime this year. The interrest of newcomers for USD Coin seems to be sinking, which is unacceptable!

USD Coin Sentiment Analysis

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4.8

How positive/negative are people on different crypto-related subreddits talking about USD Coin

Based on: Reddit.com

Positive/Negative Posts Ratio: 102:1

Talking about the history of USD Coin, it is important to note that it is a relatively newer and fresher coin of the lot. This stablecoin cryptocurrency was specifically built to combat the high volatility issues linked with mainstream crypto-tokens while making a quick and easy transaction possible for the users. USD Coin became an instant hit largely due to the good reputation of its founding companies, Coinbase and Circle. The technology and the underlying framework were developed by Centre, while its distribution was first announced by Circle and Coinbase. What USD Coin has practically done is that it has brought the US Dollar on to the blockchain, allowing the movement of payments over the cryptocurrency network.

Sentiment Analysis uses Machine Learning to analyze whether a post on reddit is written with joy or anger. The more excited people are about a project, the more positive posts there are on reddit. If a project behaves scammy, negative posts dominate. A good indicator is the positive-to-negative post ratio. For every 102 positive post about USD Coin, there are 1 negative posts, which is a exceptional ratio. A recent post mentioning USD Coin with a lot of positive feedback was posted in r/CryptoCurrency by u/LGNDS_Crypto: Passive Income, Active Income, and All the Different Ways to Get Crypto!

USD Coin Enthusiasts Analysis

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4.4

How did the community of enthusiasts that follow USD Coin closely develop over the last year?

USD Coin has gained serious lot of loyal fans in a very short time, largely because of its founding companies. The community is visibly active on different social platforms, publishing and taking forward the useful agenda of the USD Coin.

USD Coin Price Analysis

USD Coin Price Overview

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4.2

Key price metrics such as All-Time-High (ATH) and Market-Cap of USD Coin

Rank: 5

Price: $ 1.003101

Volume (24h): $ 393 M

One of the earliest partnerships the USD Coin made was with Bitmain and Centre. Back in 2018, Bitmain became a key supporter of Centre’s framework and USDC as it leads a $110 million strategic investment in Circle. USDC also has several banking partners, including Silvergate bank and US Bankcorp Asset Management (USBAM). Circle has also partnered with Grant Thornton LLP for a monthly check-up on the US Dollar reserve balances for the USDC tokens.

USD Coin is a stablecoin crypto-token. A large number of stablecoins have been introduced to the crypto markets ever since 2018. The most popular and controversial stablecoin project so far is undoubted, Tether (USDT). Other popular stablecoins include Paxos Standar (PAX), Binance USD (BUSD) and TrueUSD (TUSD).

USD Coin had its all-time-high (ATH) at 11. October 2018 at a price of $ 1.906198. Today, USD Coin is traded for $ 1.003101, which is a -47.38 % drop from the previous ATH. If you had bought USD Coin 1 year ago, you would have made a gain of 0.39 %. Going even more back, if you had bought USD Coin 5 Years ago (or at the first possible chance), you would have made a loss of 1.2 %.