USDC

According to the official data of Circle, from March 10 to March 17, Circle issued a total of 2.2 billion USD of USDCs and redeemed 8.7 billion USD of USDCs, resulting in a decrease in circulation of approximately 6.5 billion USD. As of March 17, the total circulation of USDC was US $36.9 billion, and the reserve was US $37.1 billion, including US $8.1 billion in cash and US $29 billion in short-term US treasury bond bonds. USDC circulation decreased by $6.5 billion in the past week Analysis based on this information:Circle Inc, a blockchain-based fintech company, has revealed that it issued $2.2 billion worth of USDC (USD Coin) between March 10 and March 17 this year. USDC is a stablecoin pegged to the value of the US dollar, meaning its value is not prone to the price fluctuations that affect the cryptocurrency market. The company also revealed that during the same period, 8.7 billion USDC was redeemed, leading to…

According to reports, according to CoinGecko data, the market value of the stable currency USDT has risen to around $75 billion, the highest level since May 2022. The market value of USDT is twice that of USDC. Although USDC has resolved recent issues and is flat with the US dollar, the aftermath of the SVB bank run indicates that investors are increasingly choosing USDT. USDT’s market value rose to around $75 billion, hitting a new high since May 2022 Analysis based on this information:The cryptocurrency market has been experiencing a tumultuous ride over the past year, but one area that has remained relatively stable is that of stable currencies. As the name suggests, stable currencies aim to maintain a stable value in comparison to a particular currency or asset, making them a popular choice for investors looking to protect their portfolios from the volatility of traditional cryptocurrencies. According to recent reports, the market value of the stable currency USDT has…

According to reports, a few days after the US federal government stepped in to protect the now defunct Silicon Valley bank depositors, Jeremy Allaire, the CEO of Circle, said in an interview with CNBC that although the USDC had resumed anchoring, the banking system risks had not completely disappeared. He explained that the risks of the broader impact on the US financial system appeared to be systemic, and I do not believe that these risks had completely dissipated at this time. Circle will protect itself by reducing bank deposits. From the perspective of Circle, the main preventive measure is to ensure that we are exposed to the hidden risks in the partial reserve banking system as little as possible. （dailyhodl） Circle CEO: Will protect themselves by reducing bank deposits Analysis based on this information:In a recent interview with CNBC, Jeremy Allaire, the CEO of Circle, expressed his concern about the banking system risks in the United States, despite the resumption…

According to reports, the official blog of Circle stated that as of March 15th, the banking business of the United States had basically cleared all the backlog of USDC casting and redemption requests. Since Monday morning, Circle has redeemed $3.8 billion of USDCs and issued $800 million of USDCs. Circle: Since Monday, it has redeemed $3.8 billion of USDC and cast $800 million of USDC Analysis based on this information:Circle, one of the major players in the cryptocurrency industry, has reportedly cleared all the backlog of USDC (USD Coin) casting and redemption requests from the banking business in the United States as of March 15th. This means that all outstanding USDC requests have now been processed and fulfilled. USDC is a stablecoin that is pegged to the value of the US dollar. It is used as a means of exchanging value in the cryptocurrency world, providing stability to users who may otherwise face volatility in the value of more traditional…

On March 15th, Arkham Intelligence analysis data showed that after the USDC was anchored, an address associated with the Alameda Research liquidator sent $100 million in stable currency to crypto trading companies Cumberland and GSR Markets. More than $47 million of USDCs were sent to GSR Markets on March 13, and another $50.3 million was sent to Cumberland through two transactions. Alameda’s associated address sent US $100 million in stable currency to Cumberland and GSR Markets after USDC’s anchor release Analysis based on this information:The message talks about a recent development in the world of cryptocurrency. According to the Arkham Intelligence analysis data, an address associated with the Alameda Research liquidator had sent $100 million worth of stable currency to two cryptocurrency trading companies – Cumberland and GSR Markets, after the USDC was anchored. This news is significant because Alameda Research is a well-known cryptocurrency firm that focuses on quantitative trading and offers liquidity solutions to various exchanges. The fact…

According to reports, Defi Llama data shows that on March 11th, with the anchor of the USDC, the single day trading volume of the Decentralized Exchange (DEX) hit a high of about $25 billion. Previously, DEX’s single day trading peak ($24.3 billion) occurred in May 2021, when the BTC price was approximately $65000 and the ETH price was approximately $4400. DEX trading volume hit a high of about $25 billion on the day of USDC’s anchor release Analysis based on this information:Keyword: Defi Llama, USDC, Decentralized Exchange The latest market report reveals that the daily trading volume of Decentralized Exchanges (DEXs) across the board hit $25 billion on March 11th. Defi Llama data indicates that the uptick was anchored by the stablecoin USDC. This milestone marked a significant increase in DEX trading volume compared to the previous peak of $24.3 billion, set in May 2021 at a time when Bitcoin and Ethereum prices soared to extraordinary heights of $65,000 and…

According to reports, PeckShield has monitored that the address labeled Justin Sun has just exchanged 41.3 million DAIs for 41.3 million USDCs and transferred them to the intermediate address (0x30df… 0de). This address has exchanged 100 million DAIs for 100 million USDCs in the past 17 hours and transferred them to Coinbase. Justin Sun’s address changes 41.3 million DAIs to 41.3 million USDCs and transfers them to an intermediate address Analysis based on this information:According to blockchain monitoring firm PeckShield, an address belonging to Justin Sun, known for being the founder of TRON and BitTorrent, has made a large cryptocurrency transaction. The Justin Sun address has reportedly exchanged 41.3 million Dai (a stablecoin pegged to the value of the US dollar) for an equivalent amount of USDC (another stablecoin pegged to the US dollar). The transaction was then sent to an intermediary Ethereum address. What makes this large transaction noteworthy, however, is not just the amount exchanged but also that…

On March 15th, according to Twitter user ember monitoring, a giant whale (institution) address purchased 3.4 million SNXs (approximately $10 million) from the Synthetix treasury using 10 million USDCs via AirSwap’s OTC yesterday and this afternoon, with an average purchase price of $2.93. The USDC used by the whale (institution) to purchase SNX originated from Binance and Kucoin. Data: An address purchased 3.4 million SNXs from the Synthetix treasury within two days Analysis based on this information:On March 15th, an interesting Twitter post by ember monitoring caught the attention of many cryptocurrency enthusiasts, revealing that a massive whale institution had purchased 3.4 million SNXs from the Synthetix treasury. The purchase was worth approximately $10 million and was conducted using 10 million USDCs via AirSwap’s OTC platform. What is noteworthy about this transaction is the size of the whale’s purchase and the way in which the funds were sourced. The use of Binance and Kucoin as the source of USDC highlights…

as report goes, Circle, the stable currency issuer of USDC, stated in a blog post: “Since the collapse of Signature Bank and Silvergate Bank, our team has been working around the clock to restore the liquidity operations of USDC, including the introduction of new trading banking partners. We started processing casting and redemption requests on Monday morning, March 13th local time, when the US banking system reopened and is currently processing a backlog of requests. We have more work to do here, including adding a 24/7/3 “On March 13, local time, Circle redeemed $2.9 billion of USDC and forged $700 million of USDC as a new trading banking partner with 65 functionality.” Circle: Efforts are being made to restore USDC’s liquidity operations, including the introduction of new trading banking partners Analysis based on this information:In a recent blog post, Circle, the stable currency issuer of USDC, reported that its team has been working tirelessly to restore the liquidity operations of…

According to the report, according to The Block data, since last Friday, the redemption amount of USDC has reached $6.2 billion, and the casting amount has reached $1.66 billion, that is, the net redemption amount is slightly higher than $4.5 billion. The Block: Since last Friday, the net redemption amount of USDC has exceeded $4.5 billion Analysis based on this information:The recent trend of USDC redemptions and casting has prompted various interpretations and speculations. According to the report, since last Friday, the redemption amount of USDC has reached $6.2 billion, while the casting amount has reached $1.66 billion. It appears that the net redemption amount is slightly higher than $4.5 billion. These figures have raised concerns about the stability and liquidity of digital coins. USDC, which is a stablecoin, is pegged to the US dollar. It is a digital asset designed to be a stable store of value. This means that its value is not subject to the volatility of…

It is reported that traders who use the DeFi agreement to bet on the recovery of the USDC at the weekend will face 8-digit liquidation risk if the stable currency breaks anchor with the US dollar again this week. If the USDC discounts again by 10%, the position exceeding US $70 million may face liquidation risk Analysis based on this information:The decentralized finance (DeFi) market has been on a roll in recent years. With the rise of cryptocurrencies, DeFi has evolved as a major contender in the financial world, providing a platform for individuals to trade, make investments, and engage in other financial activities. However, with new opportunities come new risks, and DeFi traders are facing a high level of risk due to the use of the DeFi agreement, which allows them to bet on the recovery of USDC. The USDC, a stablecoin supported by the US dollar, is a popular choice for traders on DeFi platforms. However, the stable…

It is reported that, according to Tokenview data, Circle destroyed USDCs worth about 1.07 billion dollars on March 13, and forged USDCs worth about 480 million dollars. Circle destroyed USD1.07 billion worth of USDC yesterday Analysis based on this information:Circle, one of the largest cryptocurrency companies in the world, made headlines recently after it destroyed USDCs worth 1.07 billion dollars and forged USDCs worth 480 million dollars. This news comes as a shock to the cryptocurrency community as Circle was one of the early adopters of USDC, a stablecoin that is pegged to the US dollar. USDC is a popular cryptocurrency that has gained attention in the last few years due to its stability and predictability. It is a stablecoin that is pegged to the US dollar, which means that one USDC is always equal to one US dollar. This makes it an attractive cryptocurrency for investors who want to avoid the volatility and unpredictability that is associated with other…

On March 14, the news that USDC and DAI had recently disengaged from the US dollar triggered a frenzy of loan repayment last weekend, which saved debtors more than US $100 million in loans. Report: The debtor repaid the loan during the period of stable currency anchoring, saving more than US $100 million Analysis based on this information:The recent announcement that USDC and DAI had disengaged from the US dollar caused a stir of activity in the loan repayment sector, resulting in debtors saving more than US $100 million in loans last weekend. This statement brings forward some questions about the current state of the US dollar and cryptocurrency, and how these two currencies are affecting the economy and financial world. USDC and DAI are both stablecoins, which means they are backed by reserve assets such as the US dollar or gold. However, unlike a regular cryptocurrency, their value is pegged to an external asset, providing greater stability and predictability…

On March 13, Jeremy Allaire, co-founder and CEO of Circle, tweeted that Circle’s deposit in SVB was 100% safe and would open tomorrow. USDC reserves are also 100% safe. Circle will complete the transfer of the remaining SVB cash to BNYMellon, and USDC’s liquidity operation will resume when the bank opens tomorrow morning. Jeremy Allaire also said that after the closure of Signature Bank, it would not be able to process and redeem the USDC through SigNet, and Circle would rely on New York Mellon Bank for settlement. Circle co-creation: Circle will rely on New York Mellon Bank for settlement Analysis based on this information:Circle co-founder and CEO, Jeremy Allaire, recently took to Twitter to reassure customers that their deposits in SVB were completely safe and would be available the following day. This announcement came after the closure of Signature Bank, which had been processing and redeeming USDC through SigNet. Allaire noted that Circle would transition to using New York…

21:00-7:00 Key words: Federal Reserve, Emergency Loan, USDC, Bank of Silicon Valley Overview of important developments overnight on March 13 Analysis based on this information:The Federal Reserve has granted a $15 million emergency loan to the Bank of Silicon Valley due to the economic impact of the COVID-19 pandemic. The infusion of funds is intended to assist the bank in maintaining adequate liquidity levels and continuing to lend to its customers during this difficult period. The loan was granted through the Federal Reserve’s emergency lending program, which was established in response to the 2008 financial crisis. This program allows banks to borrow from the Fed at a lower interest rate than they would be able to obtain in the open market. In exchange for the loan, the Bank of Silicon Valley will be required to put up collateral of equal or greater value. The decision to grant the loan was made based on an assessment of the Bank of Silicon…

According to the report, according to CoinGecko data, the price of USDC has rebounded to above US $0.98 and is currently at US $0.987856. DAI prices have also risen to above US $0.98 and are currently at US $0.987856. USDC and DAI both rose to above $0.98 Analysis based on this information:Following the drastic fluctuations in the cryptocurrency market, the prices of USDC and DAI are seeing a surge. According to CoinGecko, a leading crypto tracking platform, both USDC and DAI prices have shown an uptick, with USDC rising above US $0.98 and DAI currently at US $0.987856. USDC and DAI are both stable tokens that operate on the Ethereum blockchain, giving users the ability to transact with digital assets without having to rely on the volatility of other cryptocurrencies. A stablecoin is a type of cryptocurrency that is linked to the value of an underlying asset, such as the US dollar, making it less susceptible to fluctuating market forces….

According to the report, Conor, the business director of Coinbase, tweeted that the largest net outflow of USDCs seen on the chain belonged to the Pulsechain Sacrifice wallet. At the weekend, they exchanged 155 million USDCs for 153.7 million DAIs. They should use MakerDAO’s PSM directly, and Pulsechain finally took on the sliding point of $1.4 million, which they don’t need to do. Business director of Coinbase: Pulsechain Sacrifice wallet exchanged 155 million USDCs for 153.7 million DAIs Analysis based on this information:The recent report reveals that the Pulsechain Sacrifice wallet has generated the largest net outflow of USDCs on the Coinbase chain. Conor, the business director of Coinbase, tweeted about this development, mentioning that over the weekend, the wallet exchanged 155 million USDCs for 153.7 million DAIs. It is interesting to note that instead of utilizing MakerDAO’s PSM directly, Pulsechain chose to take on the sliding point of $1.4 million on their own. This decision raises several questions as…

According to the official news on March 13, Binance will launch the USDC 1-30 times U-standard perpetual contract at 1:00 on March 13, 2023 Beijing time. Binance will go online at 1: 00 today for USDC 1-30 times U standard perpetual contract trading Analysis based on this information:Binance, one of the leading cryptocurrency exchanges in the world, has announced the launch of the USDC 1-30x U-Standard perpetual contract. This new offering will be available for trading starting from 1:00 PM on March 13, 2023, Beijing time. The announcement was made through the official news channel of Binance. The USDC is a stablecoin that is pegged to the US dollar. This means that it is a cryptocurrency that is designed to maintain a stable value of $1 for every USDC token. On the other hand, perpetual contracts are a type of derivative financial product that allows traders to speculate on the price movements of an underlying asset without actually owning it….

According to the report, according to the data of Coingecko, the short-term premium of USDC after recovering the anchor price of US $1 has risen to US $1.01, up 5.6% in the past 24 hours, and the current market value has also risen to US $41.12 billion. USDC has a premium, which has now risen to $1.01 Analysis based on this information:The message reports that USDC’s short-term premium has surged in the past 24 hours. According to the data from Coingecko, USDC’s premium has increased to US $1.01 after recovering the anchor price of US $1, a rise of 5.6%. Additionally, the current market value of USDC has also increased to US $41.12 billion. USDC is a stablecoin that is pegged to the US dollar, meaning that it will always maintain a value of one US dollar. However, due to various market forces and investor demand, the price of USDC can either rise or fall above this anchor price. In…

On March 13, the Watchers monitoring data showed that Circle destroyed 220000000 1 USDCs again. Earlier, Circle had just destroyed 314167155.05 USDCs in a single transaction. Circle destroyed 220 million USDCs again Analysis based on this information:Circle, the issuer of the popular USDC stablecoin, has recently destroyed over 220 million units of the digital asset. According to the Watchers monitoring data, this is the second time that Circle has destroyed such a significant amount of USDCs in a single event. Earlier in the month, Circle had destroyed over 314 million USDCs in a single transaction. This signifies a trend in the burning or destruction of stablecoins, which has been gaining popularity in the cryptocurrency market. Stablecoins are generally used as a means of securing or hedging against cryptocurrencies with higher volatility. They are pegged to a fiat currency, a commodity, or a cryptocurrency such as Bitcoin. Stablecoins help to maintain the stability and predictability of cryptocurrency transactions, and their use…