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
$ 1.000327
0.07 %
Market Cap: $ 230 M

5 Years

1 Year

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USD Coin Explained

USD Coin Purpose

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4.2

What problem does USD Coin solve?

Name: USD Coin

Symbol: USDC

Founded: 24. September 2018

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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4.7

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. 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 Development

USD Coin Code Progress Analysis

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4.1

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

Developers: 30

People following development: 293

Lines of program code: 32,700

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

USD Coin is developed open-source, meaning its progress can be seen by everyone and everybody is free to help with the development. The whole source-code can be found online on github under the organization centrehq. A poor number of developes are helping to improve USD Coin: 30 developers are contributing to the project. The community has a unacceptable interest in the product development, with 293 people following the development closely. 213 Developers have downloaded the USD Coin source-code to play with it themselves, which is unacceptable. Over the past year, the USD Coin developers have made a awful number of updates to their code, 51 in total. The trend in adding new features and improving their product is hibernate. Right now, the USD Coin source-code consists of over 32700 lines of code, mostly written in JavaScript.

USD Coin Community

USD Coin Newcomers Analysis

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3.8

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.

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 horrible!

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: 80:1

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 80 positive post about USD Coin, there are 1 negative posts, which is a great ratio. A recent post mentioning USD Coin with a lot of positive feedback was posted in r/CryptoCurrency by u/DaddySkates: Ultimate Guide to Cryptocurrency Wallets - for newbies and veterans alike

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?

Telegram: @USDCoins

Created: 15. May 2018

Followers: 64

Online: 3

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 has an active channel on the chat app Telegram called USDCoins. The amount of people that follow USD Coin on telegram gives insights about how many people are highly enthusiastic about the project. As of today, the largest telegram channel dedicated to USD Coin has 64 followers in total. Over the last 1 year, the telegram channel has gained 43 members, which is a horrible amount for a cryptocurrency telegram channel. The trend of new members is idle. From all those users, about 3 are online regularly, which is a acceptable amount.

USD Coin Price Analysis

USD Coin Price Overview

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2.9

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

Rank: 7

Price: $ 1.000327

Volume (24h): $ 230 M

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.

USD Coin had its all-time-high (ATH) at 11. October 2018 at a price of $ 1.906198. Today, USD Coin is traded for $ 1.000327, which is a -47.52 % drop from the previous ATH. If you had bought USD Coin 1 year ago, you would have made a gain of 0.07 %. 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 1.47 %.