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Stablecoin USDC Trading Volume Hits $26.73 Billion Globally

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It is reported that according to statistics, the stable currency USDC recorded a global trading volume of US $26.73 billion within 24 hours. On Saturday, the US

Stablecoin USDC Trading Volume Hits $26.73 Billion Globally

It is reported that according to statistics, the stable currency USDC recorded a global trading volume of US $26.73 billion within 24 hours. On Saturday, the USDC decoupled from the US dollar and fell to a low of US $0.877. Therefore, encryption companies such as Binance, Coinbase, Crypto.com and Bitpay suspended USDC payment and automatic conversion.

The stable currency USDC recorded a global trading volume of US $26.73 billion within 24 hours

Analysis based on this information:


The article reports that the stablecoin USDC has recorded a global trading volume of US $26.73 billion within just 24 hours. This is a significant amount and indicates the growing popularity of stablecoins as a preferred digital asset for transactions. However, some recent developments have caused concerns and disrupted the operations of several crypto companies that rely on the USDC for payment and conversion.

One of the major events that impacted USDC’s value was its decoupling from the US dollar, which caused it to fall to a low of US $0.877. It is not clear why this happened, but it could be due to market volatility, insufficient liquidity, or technical glitches. Whatever the reason, the sudden drop in USDC’s price has created headaches for many crypto businesses that use it as a stable currency for their operations.

As a result of this, several popular crypto exchanges and wallet services, such as Binance, Coinbase, Crypto.com, and Bitpay, had to suspend USDC payments and automatic conversions temporarily. This move was necessary to prevent any potential losses for their users and to maintain the stability of their systems. The companies have reassured their customers that the issue is being addressed, and they are working to restore normalcy as soon as possible.

In terms of the implications of these developments, they underscore the risks and uncertainties involved in the crypto space, especially when it comes to stablecoins. Although stablecoins are designed to provide stability and predictability compared to other cryptocurrencies, they are not immune to market forces and disruptions. Investors and users must be aware of these risks and do their due diligence before investing or using any digital asset.

In conclusion, the report on the USDC’s trading volume and decoupling reveals the dynamic nature of the crypto market and the challenges involved in maintaining a stable currency. Although the USDC has proven to be a popular stablecoin, it is essential to monitor its performance and keep an eye on any developments that could impact its value. As for the crypto companies that depend on USDC, they need to be proactive in addressing issues and providing transparent communication to their users.

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