USD Coin and Tether (USDT) together account for 80% of the capitalization of the global stablecoin market. In less than a year, Pepe has already become a staple in the https://www.tokenexus.com/ highly successful meme coin narrative. Within months, it registered price increases of over 15,000% and overtook popular dog coins like DOGE and Shiba Inu in gains.
The team also states that it has “no devs, just community,” meaning the goal of Pepe Coin is not a technological breakthrough, but as a meme community project in the crypto space. Since USDC is not volatile, it works well as a payment method What is USD Coin for goods and services. You can use USD Coin to pay for gift cards on Bitrefill, electronics on Newegg, or any other merchant that supports BitPay. Anyone from anywhere in the world can use USDC as a common and recognizable unit of currency.
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It further powers apps to provide real-time access to payments, trading, and financial services. Other major stablecoins pegged to the dollar include Tether (USDT), Binance USD (BUSD), and Dai. Binance USD is a similar stablecoin backed by a major cryptocurrency exchange. Tether courted some controversy over the reserves backing the stablecoin.
But of course, no investment is risk-free, and you are taking a little bit of risk on borrowers in gaining a yield on USDC. Purchasing USD Coin won’t generate any returns for investors, as it is intended to be a stablecoin. So the advantage of this crypto is more about its usage, as there isn’t an expected price appreciation with this coin.
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USDC was created for an easier onboarding process to help users familiarize with cryptocurrencies easily. Since USDC operates primarily as an ERC-20 token, it is supported by countless DeFi platforms and crypto apps and services. It’s also readily available on centralized and decentralized exchanges, meaning buying it is relatively simple too.
