USDC Backed To $0.99 As Traders Gain Profits Amid Silicon Valley Bank Concerns
As USDC remains a popular digital dollar, investors may be wondering whether it will survive after the recent collapse of Silicon Valley Bank. If the USD Coin eventually survived, this would be a suitable opportunity to buy at the bottom when USD Coin falls. Experts suggest that the proportion of USD Coin reserves affected by the bank’s collapse is no more than 10%.
In addition, Circle, the issuer of USDC, has announced that it will use company resources to make up for any shortage in funds if Silicon Valley Bank cannot repay 100%. USDC liquidity operations are expected to return to normal after U.S. banks open on Monday. While some investors may be concerned about other U.S. banks following in Silicon Valley Bank’s footsteps, the Federal Reserve and FDIC are considering setting up a fund to guarantee deposits for struggling banks. It is important for investors who buy at the bottom to keep track of real-time dynamics to avoid unfair positions.
Source
https://t.me/Bitcoin_Crypto_Coin_Calendar
