USDC recovers $ 0.95, Bitcoin conquers the $ 20,000 mark (Weekend Watch)

Aktualisiert:

Von Krypto News Österreich

In den letzten 24 Stunden hat der Kryptowährungsmarkt eine kleine Verschnaufpause eingelegt, da es ihm gelang, rund 16 Milliarden US-Dollar an Gesamtkapitalisierung zurückzugewinnen. Die Turbulenzen um den USDC gehen jedoch weiter, obwohl sich der Stablecoin auf etwa 0,95 $ erholte, als Circled eine etwas beruhigende Erklärung abgab. USDC erholt sich auf 0,95 $ USDCs Depeg war in den letzten 48 Stunden das heißeste Thema auf dem Kryptowährungsmarkt. Es ist die zweitgrößte Stablecoin nach Gesamtkapitalisierung und die fünftgrößte Kryptowährung insgesamt. Als Stablecoin sollte der Preis von USDC niemals von 1 $ schwanken, aber gestern stürzte er ab und brannte zum ersten …
In the last 24 hours, the cryptocurrency market has taken a little breather because it managed to regain around $ 16 billion in total capitalization. However, turbulence around the USDC continues, although the stablecoin recovered to around $ 0.95 when Circled made a somewhat calming explanation. USDC recovered to $ 0.95 USDCS Depeg in the last 48 hours the hottest topic on the cryptocurrency market. It is the second largest stable coin after total capitalization and the fifth largest cryptocurrency as a whole. As a stable coin, the price of USDC should never fluctuate from $ 1, but yesterday he fell and burned to the first ... (Symbolbild/KNAT)

In the last 24 hours, the cryptocurrency market has taken a little breather because it managed to regain around $ 16 billion in total capitalization.

The turbulence around the USDC continues, although the stablecoin recovered to around $ 0.95 when Circled made a somewhat calming explanation.

USDC recovers to $ 0.95

USDCS DEPEG has been the hottest topic on the cryptocurrency market for the last 48 hours. It is the second largest stable coin after total capitalization and the fifth largest cryptocurrency as a whole.

as a stable coin, the price of USDC should never fluctuate from $ 1, but yesterday he crashed and burned under $ 0.90 for the first time. This was done, the Silicon Valley Bank-one of the largest financial institutions in the Fintech world-was essentially closed by the supervisory authorities.

It turns out that Circle holds a whopping $ 3.3 billion of the barreserves that support USDC at SVB, which indicates that USDC is not covered by the USD until the bank's problems are solved.

This sent the cryptocurrency down, but Circle was able to publish an explanation in which it was assured that even if the money was lost at SVB, they will cover every shortfall:

In such a case, Circle, as required by law and according to the ordinance on the transfer of money with saved value, are prescribed, behind USDC and cover any shortfalls with corporate resources, if necessary with the inclusion of external capital.

This seems to have calmed down the mood, since the USDC recovered to around $ 0.95 at the time of writing this article.

Bitcoin demands $ 20,000

The above has also affected the wider cryptocurrency market. The price of Bitcoin was able to recapture the important technical and psychological level of $ 20,000 and currently act about how the following graphic can be seen:

btcusdt_2023-12_1-47-53 Tradingview

BTC rose by about 1.7 % that day. Ethereum has also increased by about 2.1 % in the last 24 hours, since concern about the claim of NYAG that ETH is a securities, gradually scattered.

Matic also rose over $ 1 and rose by 4.2 % that day. Interestingly, USDC-a stablecoin-is the best performer among the top 10 cryptocurrencies after market capitalization.

.