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Alameda Research Withdraws 55 Million USDC From Circle

Date:

  • Alameda Research withdrew 55 million USDC from Circle earlier today.
  • USDC is currently down by 0.04%, yet still maintains its peg to the dollar.
  • BUSD saw a low of $0.9996 over the last 24 hours.

The web3 data analysis tool Lookonchain took to Twitter earlier today to share some information about huge USDC withdrawals. According to the post, Alameda Research withdrew 55 million USDC from Circle about two hours ago.

ERC-20 token transfer events (Source: Lookonchain)

According to the crypto market tracking website CoinMarketCap, USDC is currently down by 0.04%, yet still maintains its peg to the dollar. With its market cap of $44,451,040,801, USDC is currently the 5th biggest cryptocurrency in terms of market cap, and the second biggest stable coin on the list of biggest cryptos.

The stable coin’s 24-hour market cap is also in the red for today to now stand at $3,086,179,306 after a more than 12% drop over the last day.

Data from CoinMarketCap also indicates that the volume of all stable coins is now $57.36B, which is 93.54% of the total crypto market 24-hour volume.

When looking at some of the other top stable coins in the market, we see that Tether (USDT) is currently in the green by about 0.04% and still maintains its peg to the dollar. USDT is currently the biggest stable coin in the market in terms of market capitalization with a market cap of $66,015,521,288.

Binance USD (BUSD) also saw a correction over the last 24 hours as its price is currently down by 0.06%. BUSD also saw a low of $0.9996 over the same time period. The stable coin’s 24-hour trading volume is also in the red by more than 20% to now stand at $7,475,816,135.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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