1. PixelPlaygroundHome
  2. Web3 News

USDC Short-term Anchor Release Declines by 2.1%

• Web3 News • 162 views

According to the report, according to the data of Coingecko, the short-term anchor release of USDC is currently down to US $0.978916, with a decline of 2.1% in…

USDC Short-term Anchor Release Declines by 2.1%

According to the report, according to the data of Coingecko, the short-term anchor release of USDC is currently down to US $0.978916, with a decline of 2.1% in the past 24 hours. Previously, Circle, the issuer of the US dollar stable currency, disclosed on social media that Silicon Valley Bank was one of its six banking partners, responsible for jointly managing about 25% of the cash reserves of the USDC.

The USDC has temporarily dropped to the range of 0.97 US dollars

Analysis based on this information:


The report reveals that the short-term anchor release of USDC has declined by 2.1% in the past 24 hours, reaching US $0.978916, based on data provided by Coingecko. This development is a cause for concern as it signals that USDC’s stability may be at risk, despite its reputation as a stable currency.

USDC is one of the most popular stable currencies in the cryptocurrency world. It is designed to maintain a steady value against the US dollar by being backed by the same amount of US dollars in Circle’s reserves. However, the recent decline in the short-term anchor release suggests that the value of the USDC is not as stable as previously thought.

The report also highlights that Silicon Valley Bank is one of USDC’s six banking partners and is responsible for managing about 25% of the cash reserves of the stable currency. This information is significant because it suggests that even a stable currency like USDC is subject to market forces and relies on external factors to maintain its value.

The decline in USDC’s short-term anchor release could be attributed to several factors, including general market volatility and the lack of trust in stable currencies due to past scandals and concerns about centralized control. The decline could also be due to the pressure on the US dollar, which has seen a decline in value against other major currencies in recent months.

The report highlights the importance of monitoring stable currencies and their underlying reserves to ensure that they remain stable and valuable over time. Given the current economic climate marked by uncertainty and volatility, it is essential to remain vigilant when it comes to stable currencies and their performance.

In conclusion, the report signals a decline in USDC’s short-term anchor release, which is a cause for concern for investors and stakeholders. Despite its reputation as a stable currency, USDC’s value is subject to market forces and external factors, as evidenced by the influence of Silicon Valley Bank on its cash reserves. Monitoring stable currencies and their underlying reserves is critical to ensure their stability and reliability over time.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/8233/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/11/2023 01:38
Next 03/11/2023 01:59

Recommended articles