What is USDC token and how does it work in the cryptocurrency market?

1 answers

• thorrfinnnJun 23, 2020 · 5 years ago
  USDC token is a stablecoin that is widely used in the cryptocurrency market. It is issued by Circle, a financial technology company, and is backed by a reserve of US dollars. The token operates on the Ethereum blockchain and can be easily transferred between wallets and exchanges. USDC provides a stable and reliable means of transacting within the cryptocurrency market, as its value is pegged to the US dollar. It is particularly useful for traders who want to quickly move in and out of positions without being exposed to the volatility of other cryptocurrencies. Additionally, USDC can be used in various decentralized finance (DeFi) applications, such as lending and borrowing.
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