Good morning, afternoon, and evening investor, how are you?
The end of USDC or USDT?
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My phrase to describe fundamental analysis in the crypto market is from Max Plack's 1950s scientific autobiography:
“A new scientific truth triumphs not by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up familiar with it.” - Max Score
Although this phrase has a scientific context, it reveals a lot about the long-term logic of an investment thesis.
When you make a certain claim in the crypto market, you are proposing a thesis...
In the vast majority of cases, they are impossible to prove in their integrity, however, over time (in the long term), they tend to be surpassed or evidenced by the market.
Recently, this headline scared countless investors in the crypto market.
The end of USDC:
This claim was based on a tweet from a pseudo-anonymous account claiming that USDC reserves were insolvent and Circle was on the brink of its financial collapse.
As we explained in some reviews earlier, this statement made no sense given the fact that Circle's balance sheets are open and USDC accounts are audited monthly.
Yesterday I was even more positively surprised by the USDC...
Clear and Stable Data!
Today, we are maintaining that commitment and issuing our first full monthly breakdown of USDC reserve assets as of June 30, 2022, as well as a complete list of USDC reserve custodians.
- Jeremy Fox-Geen, CFO of Circle
USDC backing description:
Circle opened all the investments it made with the capital present in USDC, in 42 billion dollars, 76% of the current USDC is invested in highly liquid US government bonds and the rest is held in custody in large banks.
In addition to making a promise that they will soon make their reservations public and updated daily.
The Power of Transparency!
This stance by USDC is making the stablecoin gain more and more space in the market, highlighted by the reduction in the size of USDT in recent years.
USDT Dominance Reduction:
I believe that USDC is on its way to becoming the leading stablecoin on the market, as well as the safest.
I find it very interesting how the truths of the crypto market are evidenced in the long term and you can realize them through good fundamental analysis.
What's up?
This week the macro scenario is also moving well after the US inflation numbers, I know that many people are insecure with their investment at the moment.
Are You Ready?
