After dropping to as low as $0.87, USDC has surged back to $0.99 despite the crypto-friendly Signature Bank going bust.
Highlights
- USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe.
- USDC dropped to as low as $0.87 over the weekend amid concerns about $3.3 billion worth of USDC reserves being held at Silicon Valley Bank.
- Allaire also confirmed that the firm has new banking partners lined up at “banking open tomorrow morning” Total crypto market cap now above $1 trillion following sharp drop to $961 billion on March 11.
- Bitcoin (BTC), Ether (ETH), Cardano (ADA), Polygon (MATIC) and Solana (SOL) have pumped a hefty 10.6% in the past 24 hours.
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