Not financial advice. We could receive compensation from advertisers and affiliate partners.
Stablecoin USDC is going on its second consecutive day that it is under its dollar peg by more than 6 cents following the announcement by Circle revealed that USDC has more than $3 billion in cash reserves inside Silicon Valley Bank.
At present, USDC is priced at .94 which is an increase of five cents from the earlier rate of 89c last Saturday.
Here’s an illustration of how bad UDC’s problems are:
The stablecoin that is a competitor to USDT is not having any issues whatsoever.
Tether has been reported as having no relationship with Silicon Valley Bank at all and, as a result, Tether has remained on its peg, and is currently at$1.01.
Check out:
Post Disclaimer
Please note that the opinions shared here are for informational purposes and not meant to be considered investment advice. Each writer expresses their own views, which may not necessarily reflect those of the platform. All investments and trading carry risks, so it is important to conduct thorough research before making any decisions. It is important to only invest money that you can afford to lose, as this author & Financial Futruism is not responsible for any financial losses resulting from investments or cryptocurrency trading.
