USD Coin (StableCoin) Project OverviewAbout USD Coin
USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open source project bootstrapped by contributions from Circle and Coinbase. USDCs are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency in a 1 USDC:1 USD ratio. Issuers are required to report their USD reserve holdings frequently, and Grant Thornton LLP issues reports on those holdings every month.
"INTRODUCING USD COIN
"A stablecoin brought to you by Circle and Coinbase
"An open source, smart contract-based stablecoin
"True financial interoperability requires a price stable means of value exchange. CENTRE’s technology for fiat-backed stablecoins brings stability to crypto. The initial implementation is USD Coin (USDC), an ERC-20 token creating possibilities in payments, lending, investing, trading and trade finance — and the ecosystem will grow as other fiat currency tokens are added."
Source: Coinmarketcap.com
Website: centre.io/usdc
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Above you have the chart mapped with the Fib. levels.
Namaste.
USDC
USDT - Stablecoins, crypto, market cap growthWill these market caps ever stop going up? USDT, USDC, PAX, BUSD, TUSD, DAI . Maybe XUSD crypto coming
XRP/USDC H&S break Pattern What is next? Hi to all, this is my idea on XRP,
Please comment if you agree or not with this idea.
XRP price just bounce with a little bit of trouble form the EMA200 and break the neck line from the previous H&S pattern, this means that the bearish market end.
The MACD and the RSI also are ready to support this movement.
Enter Price above the neck line: 0.23
Targets:
Right Shoulder: 0.241
Head: 0.255
Adro
UC: Short setup remains I'll be looking to get into a short contract at the short-zone shown in the chrat. I think we will fulfill the level then roll over to the downside. Stay tuned for an entry.
Poloniex added USDC/XMR pair to its exchangeXMR will benefit from more of these kinds of pairings. The more XMR pairing with stable coins and alt the better for overall liquidity and use.
Another sign Monero is making it into the mainstream.
Tether implosion with bitfinex to coinbase premiumSo this is the complete Tether implosion chart. Watch Tether vs all other StableCoins. You can see the tether troubles reflected in the bitfinex / coinbase premium.
Tether implosion continuing.. bitfinex RIP?So the tether implosion is continuing, check out my previous post -> . In this one i added PAX.
Anyways we can clearly see that USDC is leading the USDT exodus. Probably all of Tethers US customers are moving into USDC and the Tether team can't keep up the peg.
Is Tether going to implode to it's competitors? No one knows how tether really backs up their USD. If they use actual USD they're at the mercy of legacy banks that can shut them down and if they use BTC or others assets to back up tether then they are at the mercy of the markets and the prices of their assets. Tethering ain't ezpz.. Now big boy goldman sachs has entered the stable Ecoin (Evil coin) game giving tether some competition. The chart shows that the tether drama arose shortly after the introduction of USDC. Some bigger players probably sold their Tether for USDC and bitfinex et al couldn't keep the peg without selling too much of their assets such as btc.
possible pattern set up on $USDCHF could break out in either direction but im leaning towards short due to the reasons mentioned on chart
USDCHF remain bullish with pullback to supportBuy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044.
Reason for the trading strategy (technically):
Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. It has also made a very nice pullback and recently displayed a bounce above this descending support line. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044 resistance (Fibonacci retracement, swing high resistance).
RSI (34) sees intermediate support above our 36% level.
EURUSD Overall Downtrend Over the market has been saying downtrend, just be careful & simply wait for 50sma confirmation.
