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The USDC Treasury has just minted another 10,000,000on — which will be entering the cryptocurrency market shortly.
Fresh purchasing power will soon be on the market as the USDC Treasury has minted another batch of its Stablecoins are a class of cryptocurrency that aim to provide price stability. One of the perceived drawbacks of cryptocurrency is... More. The second-largest stablecoin will be issuing another $10M in digital fiat as the market turns green, yet again.
The news was reported first by Whale Alert (@whale_alert).
Reactions to the minting were largely positive, with most expecting it to provide a boost to the ongoing rally.
💵 💵 10,000,000 #USDC (10,000,000 USD) minted at USDC Treasury
— Whale Alert (@whale_alert) February 12, 2020
(BTC) has maintained its position well above the $10,000 price point and is currently up +5.51 percent on the daily. It is trading around the $10,300 level.
The latest minting is also on Blockchain is a digital ledger that’s used for storing data on several servers across the world in a decentralized, trustless... More, which has become the de facto platform-of-choice for stablecoins. As BeInCrypto reported on earlier this month, “Ethereum’s economy is now dominated by stable value transfer.” As of February 1, stablecoin tokens on Ethereum have overtaken ETH itself in terms of total value transferred daily.
Many hope that the issuing of more stablecoins on Ethereum will stabilize its value in the long run.
Ethereum made a strong upward move in the last 24H and is currently up +15 percent, trading for around $252.
USDC has seen significant activity in 2020, thus far.
Altogether, USDC hopes to someday compete with offering interest-based gains for HODL’rs.(USDT) — but it currently boasts just a fraction of its market capitalization. The Coinbase-backed stablecoin has tried to boost its visibility by
Whether or not USD Coin can someday eclipse Tether remains to be seen, but we can expect more stablecoins to enter the picture as the year goes on.
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