USDC Maintains Dollar Peg Amid Global Economic Tensions
USDC Financial Developments
USDC is experiencing minor volatility while maintaining its dollar peg amid global economic tensions. Key points include:
- USDC briefly dipped below parity but quickly recovered, highlighting resilience during market uncertainty.
- Circle's IPO filing reveals Coinbase receives 50% of USDC reserve revenue.
- Major banks JPMorgan and Citibank support Circle's public offering, targeting a $4-5 billion valuation.
- Record stablecoin deposits reported by exchanges like Binance, with USDC integral to derivative trading.
- Stablecoin's stability attracts investors seeking protection from economic fallout related to trade conflicts.
USDC Technical Analysis
Key technical highlights for USDC include:
- Narrow trading range of 0.000829 (0.083%) and annualized volatility of 1.58%.
- Gradual price decline from 1.0006 to sub-parity levels around March 31st.
- Support zone formed at 0.9999 with trading volumes peaking during transitions.
- Recent recovery trend shows higher lows and consistent volume patterns above 50M units hourly.
- Decisive buyer action stabilized prices around 1.0000 after brief sub-parity dip.