Will USDC Dethrone USDT? This Report Says Yes

One of the more unsettling events in the stablecoin sector occurred in May when Terra's UST lost its 1:1 dollar peg. Chaos resulted from the de-peg, which also utterly destroyed Terra's legitimacy.

Timeline of Usd-coin

The stability of Stablecoins has been the biggest question in the crypto industry after the recent collapse of Terra's UST. However, many different stablecoins are trying hard to fill the gap made due to it.

The USD Coin technical score of 23 proposes a bearish signal emerging for the coin and now the price is set at $0.999137 or down by 0.2% in the past week as we can see more today in our USD Coin news.

USD Coin price is currently trading at $0.999137, down 0.2 percent in the last seven days, data from Coingecko show, Saturday.  USDC hit its all-time high three years ago or on May 8, 2019, at $1.17.

As Congress mulls stablecoin legislation, Circle is laying out its wishlist.  The post USDC issuer Circle lays out its hopes for coming stablecoin policy appeared first on The Block.

A recent blog post from Circle reveals that the company is holding USDC assets worth $55.7B. The USD Coin holdings consist of cash and US treasuries worth $13.58B and $42.12B, respectively.

Stablecoin issuer Circle is unveiling a full breakdown of its USD Coin (USDC) reserves as part of its commitment to increase transparency. According to a new company blog post, Circle is issuing its first ever monthly breakdown of USDC reserve assets to demonstrate the stablecoin's full backing and peg to the US Dollar.

The Circle USDC issuer disclosed their reserves and proved that the company is actually liquid and showed that its stablecoin is fully backed by physical dollars as we can see more today in our latest Circle news.

The entire crypto space felt a negative impact from the failure of the algorithmic stablecoin UST and Terra's native token, LUNA. Other top stablecoin projects like Tether's USDT and Circle's (USDC) have received more pressure from different angles.

The payments management firm has released a detailed reserve report, revealing that its USDC stablecoin is backed only by cash and short-term treasury bonds.  Full Reserve Report To Win Trust In a bid to practice transparency and instill trust among its customers, Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings.

Circle issued its first monthly report of USDC reserve assets on July 14 in an effort to enhance transparency. The post Circle shuts down critics with on-going disclosures on USDC reserve assets appeared first on CryptoSlate.