USD Coin Long-Term Technical Score of 23 Signals Bearish Pattern
2022年7月23日 - 7:42PM
NEWSBTC
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. The coin registered its all-time low last year on May 19,
2021, at $0.891848. It has a total of 55 billion coins in
circulation and has a trading volume of $5,576,310,766.
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Current Bearish Conditions USD Coin Remains Bearish With LTT Score
Of 23 The long-term technical score of USDC is now at 23 which
gives away a weak and bearish standpoint based on its long-term
trading movement. USDC trading volume is currently below the
seven-day average seen in the last 24 hours or with a total trading
volume of 6,391,817,313 as of Saturday. USD Coin currently has an
active address count of 24,676. The moving averages noted in the
20-, 50-, 100-, and 200-hour moving averages have been inconsistent
and there was no clear trend seen. More so, there is a marked
choppiness in terms of price with the moving averages being crossed
and has oscillated from 2,009 to 23,685 as seen in the past 29
weeks. USD Coin Value Remains Consistent USDC, a stablecoin founded
by Centre Consortium, is fully backed and pegged to the US dollar
and has a set value of $1 per coin. It’s considered a great
investment and passive income stream for many crypto investors
because the value doesn’t change regardless of the market
volatility or economic state. Unlike other coins like Bitcoin,
Ethereum, Dogecoin, Shiba Inu, and the like, with prices
fluctuating wildly by the hour, the value of the USDC Coin remains
consistent and predictable over time. USDC total market cap at
$55.3 billion on the daily chart | Source: TradingView.com Every
USD coin is also collateralized by the US dollar in a bank. This
means every USDC has an equivalent US dollar in storage. A fresh
new coin is created and backed in a separate bank account by
demand. It is in fact the only stablecoin that is both
crypto-collateralized and fiat-collateralized. Unlike Tether, USDC
is completely backed by fiat assets which makes it extremely
popular and widely accepted even by traditional investors who have
risk aversions against the extreme volatility and uncertainty of
most digital assets. Suggested Reading | Cardano (ADA), After
35% Spike, Locks On Next Target: $0.55 USDC provides stability to
the very erratic state of cryptocurrencies. With US dollars in the
blockchain, it provides quick USDC to USD conversions, peer-to-peer
transactions, e-commerce, and payments done in minutes. Featured
image from Freepik, chart from TradingView.com
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