$1.5 million worth of USDC was minted again!

Nadziratel

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Quote from: cheezcarls on December 16, 2019, 10:47:15 AM

Another batch of the Coinbase-backed USD Coin (USDC) has just been minted. $1.5M worth of USDC will soon be entering the market.

USD Coin (USDC), a stablecoin backed by Coinbase and Circle, has been quickly ramping up its issuances as it expands its reserves. The open-source stablecoin project has been increasing its visibility in the past few months.

Source link here

Another WhaleAlert again!

Last time, they did minted around $2.8 million worth of USDC. It only cost them around $0.08 to transfer from their treasury to an unknown wallet, which is an astonishing $19 million worth of USDC.

Now that it's about to enter the crypto market, do you think this is such a good sign? What does this mean for cryptomaniacs now? Are they preparing for 2020 to overtake Tether (USDT) as the best stablecoin in the market?

I don't know though, but what I am just really happy about is that it only cost them cents to transfer millions worth of USDC.

In the past, this monetary expansion was made as a result of the increase in daily volumes during the bull season. But as far as we can see, there is no such scenario. Coinbase may be trying to create an expansion through profitability.

However, it should be remembered that this can be good as well as bad. Coinbase is a good and reliable platform, so there's probably nothing bad, but it's a good idea to keep a close eye on the market....

Aabcde

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Lately also appear stablecoin besides usdc, tether and others. For me stablecoin is not very useful, because when I want to secure an asset from a price dump, then I will withdraw it to fiat but not withdraw it to the bank. Everyone has their own way, as long as Stablecoin is still useful for people, it is still the best choice.

VanDeinsberg12

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More stable coin means more money come. Remember what was happening with USDT in the past and USDT minted so many new coins and that gives a huge impact to the bitcoin market.
but that is a small money that will give nothing to the market, at least more money is coming to the crypto. Tether minted hundred millions dollars and it's not possible for USDC to replace tether.
that will never happen until USDC will do the manipulation to its reserve like what has been doing by tether.

starblocks

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USD Coin (USDC) is still far behind Tether (USDT) in total amount of dollar tokens issued and it is being pro-actively marketed and supported by many of the top exchanges now including Binance, Houbi, Poloniex as well as Coinbase Pro so it's sure to receive its fair share of the market activity involving stablecoins in the coming year

leowonderful

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Bitcoin FTW!

It's also important to note that a lot of USDC is burned as well if you're going to talk about how much they mint; looking at the same Twitter account @whale_alert that the 1.5 million USDC figure that the article in question quotes, there was about 8 million USDC burned just an hour earlier, likely because of a large redemption according to the Centre USDC FAQ. Either way, it does seem that USDC's becoming one of the more popular stablecoins people use.

I'm pretty indifferent to stablecoins as well, but I don't trust Tether at all and it is in my opinion that if you must use a stablecoin, don't use Tether, and USDC seems to be one of the better ones from what I've seen over the past few months.

tenakha

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Stablecoins are not preferable by me, but it may be useful for those who find it useful. More mintage is not good or bad, it means more demand from my point of view. However, charging penny fee for million dollar transactions will be an advantage for future development.

But, in order to compete with USDT, coinbase's coin needs to grow more, there is almost a 100x difference between 24 hour volumes.

monineklutak

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Quote from: Dickiy on December 16, 2019, 11:48:10 AM

I think USDC is very ready for 2020 and is possible to surpass USDT as a stable but not sure for the best at the moment. Because of the consideration, is it possible to match USD coins that have a market capitalization of $ 468 million with a daily volume of around $ 258 million?

it could happen, USDC is a tough competitor of USDT especially with 1.5 million fresh funds coming into the project I think they are ready for a surprise next year, we will see it

livingfree

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Do they have to take over UDST and become the next popular stable coin? I don't think that they have to do that because they're already popular and people are looking for a better stable coin which is actually backed by something.

Quote from: DaMut on December 16, 2019, 11:19:08 AM

if we are talking about our past history, cryptocurrency got a lot of liquidity from the newly minted stablecoin. this could be another sign, it seems like they are preparing something to the market, I will not be surprised to see another gain before the end of the year because we used to see it.

A lot of USDT was printed last bull run so this could be it but this is also couldn't be it too.

Dickiy

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I think USDC is very ready for 2020 and is possible to surpass USDT as a stable but not sure for the best at the moment. Because of the consideration, is it possible to match USD coins that have a market capitalization of $ 468 million with a daily volume of around $ 258 million?

DaMut

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Activity: 1246

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if we are talking about our past history, cryptocurrency got a lot of liquidity from the newly minted stablecoin. this could be another sign, it seems like they are preparing something to the market, I will not be surprised to see another gain before the end of the year because we used to see it.

cheezcarls

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Another batch of the Coinbase-backed USD Coin (USDC) has just been minted. $1.5M worth of USDC will soon be entering the market.

USD Coin (USDC), a stablecoin backed by Coinbase and Circle, has been quickly ramping up its issuances as it expands its reserves. The open-source stablecoin project has been increasing its visibility in the past few months.

Source link here

Another WhaleAlert again!

Last time, they did minted around $2.8 million worth of USDC. It only cost them around $0.08 to transfer from their treasury to an unknown wallet, which is an astonishing $19 million worth of USDC.

Now that it's about to enter the crypto market, do you think this is such a good sign? What does this mean for cryptomaniacs now? Are they preparing for 2020 to overtake Tether (USDT) as the best stablecoin in the market?

I don't know though, but what I am just really happy about is that it only cost them cents to transfer millions worth of USDC.

Topic: $1.5 million worth of USDC was minted again! (Read 117 times)