- Analyst Andrew T tweeted that good cash buyers are nonetheless staying away from USDC.
- The tweet added that current re-pegging of the USDC has largely been pushed by retail commerce.
- USDC value has recovered 3.27% within the final 24 hours.
Crypto analyst Andrew T (@Blocknalia), who can also be a member of the Nansen.ai staff, tweeted this morning that the good cash was not shopping for USDC. He argued that the current re-pegging of the USDC was pushed by retail and that institutional and retail cash remained skinny.
In his tweet, Andrew T acknowledged that the entire quantity of USDC in good cash wallets and complete good cash addresses are at multi-month lows.
USDC has regained a few of its peg towards the US greenback after gaining 3.27% within the final 24 hours, based on CoinMarketCap. This places the USDC value at $0.9911 at press time.
USDC has additionally topped CoinMarketCap’s pattern chart over the previous 24 hours. The meme token Shiba Inu (SHIB) is at quantity 2 on the checklist, adopted by TABOO TOKEN (TABOO).
USDC is presently the second largest stablecoin by market cap with an estimated market cap of $40,753,440,721. By market cap, it’s also the fifth largest cryptocurrency undertaking by market cap, rating under Binance Coin (BNB) at #4 and above Ripple (XRP) at #6.
The stablecoin’s largest competitor, Tether (USDT), is ranked as the most important stablecoin by market cap, with a complete market cap of $71,811,531,724 at press time. This additionally ranks USDT because the third largest cryptocurrency undertaking by market cap, under Bitcoin (BTC) and Ethereum (ETH).
Regardless of current turmoil and FUD within the cryptocurrency market, Tether has managed to keep up its peg to the US greenback.
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