Global Trading Volume of Stable Currency USDC Reaches $26.73 Billion within 24 Hours

03/13/2023 20:05 • Crypto & Markets • 63 views

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 report reveals that the stable currency USDC has witnessed a surge in its global trading volume, reaching a whopping $26.73 billion within just 24 hours. This is a significant milestone for the digital payment industry, which has been experiencing rapid growth and adoption in recent years. However, amidst all this success, the USDC decoupled from the US dollar and dropped to a low of $0.877 on Saturday.

This sudden drop in price has affected the operations of various encryption companies such as Binance, Coinbase, Crypto.com, and Bitpay. These companies have suspended all USDC-related payment services, including automatic conversion in response to the decoupling. This decision is a preventive measure taken by the companies to safeguard against potential losses.

The major reason for this sudden decoupling is yet to be determined. However, industry experts speculate that it could be due to market volatility or a technical glitch in the system. The USDC is a stable currency, meaning that its value is pegged to the US Dollar, and any significant deviation from this value could create market panic and affect investor confidence.

Despite this, the USDC remains an attractive investment option for crypto investors due to its stability and high liquidity. It is fast gaining popularity among individuals and businesses alike who prefer its ease of use, transparency, and low transaction costs.

In conclusion, the high global trading volume of USDC indicates its growing acceptance and increasing popularity among digital payment users. However, the sudden decoupling from the US dollar highlights the need for caution and preparation for any unforeseen market changes. It also serves as a reminder to investors and traders to diversify their portfolios and invest wisely.

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