Circle Mints 50 Million USDC, Boosting Market Dynamics
USDC has seen another large minting event, with 50 million coins freshly created at the USDC Treasury.
Despite this , market behavior remains cautious, with USDC trading at just below $1 and its daily volume reaching over $8 billion. The stablecoin’s market cap has held steady at around $35.5 billion, reflecting mixed activity in the market.
Meanwhile, Circle has expanded USDC’s accessibility in Brazil and Mexico, a move expected to enhance its adoption in Latin America.
USDC’s derivatives market saw a surge in trading volume, rising over 15%, though open interest saw a slight decline. Traders appear divided, with a nearly balanced long/short ratio on Binance, signaling neutral sentiment overall.
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Controversial Theory Suggests Bitcoin Was Designed to Undermine the U.S. DollarCircle’s recent expansion allows businesses in Brazil and Mexico to convert their local currencies directly into USDC, bypassing traditional international transfers.
This innovation cuts transaction times from days to minutes and slashes costs, giving businesses quicker access to liquidity and streamlining cross-border payments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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