On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.13 billion in trades over the past day, with more than 55% of those swaps involving USDC against wrapped ether, and the stablecoin tether. During the last 24 hours, USDC emerged as the most dominant trading pair on dex platforms.
However, despite centralized exchanges halting USDC conversions, the stablecoin accounted for 29% of the $90.70 billion in 24-hour global crypto trades. According to statistics from coingecko.com, over the last day, $15.66 billion was settled on dex trading platforms, with $10.13 billion of that amount resulting from trades on Uniswap version three .
Looks like $USDC is the next $UST. The only question here is when will $USDC go to zero? When Circle finally releases their real finncial records that show how much exposure they actually have with SBV? 🤔
We just keep watching a game of encrypted money
Don't think it will go to zero
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Using Chiefrafba for signals and analysis I have a 92% win rate in 2 months
Wow, who knew 'stable'coins could be so exciting?