Streetbeat News

USDCUSD

USDC/USD pair

Industry

Digital Currency

Cryptocurrency USDC/USD pair

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

An anonymous Solana trader turned $92 into $1.55 million in 16 days by trading a memecoin called Silly. The trader initially bought 20.5 million SILLY tokens with 0.7 SOL and later sold 5 million of them for 202,575 USDC. The remaining 15 million SILLY tokens are valued at approximately $1.35 million. This showcases the high-risk, high-reward nature of trading memecoins, which are known for their volatility and potential for rapid price changes.

Portfolio Pulse from Murtuza Merchant

December 21, 2023 | 5:43 pm

A trader turned a $454 investment in Coq Inu (COQ), a meme coin on the Avalanche blockchain, into $2.19 million in two weeks. They sold 4.61 trillion COQ for 32,251 AVAX and 259,000 USDC, retaining 250 billion COQ valued at ~$700,000. Coq Inu's market cap is $230 million, with a 900% price surge in a week. Floki Inu (FLOKI) and Baby Doge Coin (BABYDOGE) also showed movement, with FLOKI down 12% and BABYDOGE up 8% in the last two weeks. Investors are cautioned about the speculative nature of meme coins.

Portfolio Pulse from Murtuza Merchant

December 20, 2023 | 6:16 pm

Bank of Korea Governor Rhee Chang-yong expressed concerns about the impact of stablecoins like USDT and USDC on central banking operations at a conference. He highlighted the risks they pose to financial stability and the effectiveness of monetary policies, especially with the involvement of global networks such as Visa and Mastercard. Rhee also discussed South Korea's pilot projects for retail and wholesale CBDCs using DLT and the potential benefits of programmability through smart contracts.

Portfolio Pulse from Murtuza Merchant

December 19, 2023 | 6:39 pm

Circle has launched its euro-backed stablecoin, EURC, on the Solana blockchain, which is known for low-cost and fast transactions. This addition will facilitate global trading, borrowing, lending, and instant foreign exchange trading. Solana has seen a 22.5% gain in the past 30 days, contributing to a 260% surge over the last three months. EURC is also available on Avalanche, Ethereum, and Stellar blockchains. Circle's Mint will help businesses convert EUR to and from EURC smoothly, and EURC is expected to comply with the upcoming MiCA regulation in Europe.

Portfolio Pulse from Khyathi Dalal

December 18, 2023 | 9:48 pm

The Fairshake Super PAC, representing the U.S. crypto community, has raised over $78 million to support pro-crypto candidates in the 2024 elections. Contributions came from 20 companies and industry figures, including Andreessen Horowitz, Ark, Coinbase Global Inc. CEO Brian Armstrong, and Blockchain Capital. The PAC aims to gain 1 million supporters to advocate for fair crypto policies, with over 215,000 already onboard. The initiative reflects the interests of 52 million Americans who own digital assets and are dissatisfied with the current financial system.

Portfolio Pulse from Murtuza Merchant

December 18, 2023 | 5:09 pm

Circle, the issuer of USDC, is facing renewed accusations from the Campaign for Accountability (CFA) regarding its Cross Chain Transfer Protocol (CCTP) being used for illicit finance through the Tron blockchain. CFA has raised concerns to Senators Elizabeth Warren and Sherrod Brown, citing law enforcement actions involving Tron. Circle's Dante Disparte responded in November, denying the claims and stating that Circle monitors blockchain activity and has cut ties with Justin Sun and related entities. Despite this, CFA criticizes Circle for lack of transparency and regulatory approval for offering USDC on Tron and other offshore blockchains.

Portfolio Pulse from Khyathi Dalal

December 16, 2023 | 5:47 pm

The crypto markets are experiencing a downturn with significant liquidations and a drop in the global crypto market cap. Bitcoin's dominance stands at 52.0%, and most cryptocurrencies are trading sideways or in the red, except for USDC and AVAX. The market is awaiting the FOMC's final meeting of 2023 and inflation data, with expectations that the Fed will maintain interest rates. Bitcoin has declined to $40,978, a 6.6% drop, with Ethereum and XRP seeing similar losses. The market is also looking forward to the Bitcoin halving event and the potential approval of a spot Bitcoin ETF.

Portfolio Pulse from Khyathi Dalal

December 11, 2023 | 7:55 pm

Circle, the issuer of the USDC stablecoin, has partnered with SBI Holdings to expand the use of USDC and Circle's Web3 services in Japan. The collaboration aims to ensure compliance with stablecoin regulations and seeks approvals for SBI VC Trade Co to operate as an electronic payment instruments service. SBI Shinsei Bank Ltd. will provide banking services to support stablecoin access and liquidity in Japan. The partnership aligns with Japan's revised Payment Services Act and SBI's digital asset strategy.

Portfolio Pulse from Khyathi Dalal

November 27, 2023 | 2:54 pm

The HECO Chain bridge experienced a security breach resulting in the theft of over $86.6 million in cryptocurrencies, including Ether and Shiba Inu. Tron's founder Justin Sun has committed to covering all user losses and has temporarily suspended deposits and withdrawals for investigation. The breach is the second major exploit of a Sun-affiliated project, following a $100 million exploit at Poloniex exchange in November.

Portfolio Pulse from Murtuza Merchant

November 22, 2023 | 5:52 pm

Circle, the issuer of USDC, has launched the Circle Alliance Program to promote the use of its stablecoin and Web3 services globally. Despite a 5% drop in USDC's market cap and a narrowing market share to less than 19%, Circle aims to revitalize USDC amidst stiff competition, especially from Tether. The company is also considering an IPO in 2024. Circle has introduced Circle Mint in Singapore, a zero-fee minting facility, following the acquisition of an MPI license from MAS.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 4:46 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.