“When news broke that Circle’s funds were stuck in Silicon Valley Bank, users rushed to redeem their USDC for USD,” Ignas said. “On Coinbase, users could redeem 1 USDC for $1.00, but Coinbase suspended conversions over the weekend when banks are closed, which worsened the situation, leaving traders with no option but to liquidate holdings in the spot market.”
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Bitcoin (BTC) $ 82,053.00
Ethereum (ETH) $ 1,892.92
Tether (USDT) $ 0.999835
XRP (XRP) $ 2.29
BNB (BNB) $ 580.86
Solana (SOL) $ 124.73
USDC (USDC) $ 0.999891
Cardano (ADA) $ 0.709669
Dogecoin (DOGE) $ 0.168174
TRON (TRX) $ 0.223739Bitcoin (BTC) $ 82,053.00Ethereum (ETH) $ 1,892.92Tether (USDT) $ 0.999835XRP (XRP) $ 2.29BNB (BNB) $ 580.86Solana (SOL) $ 124.73USDC (USDC) $ 0.999891Cardano (ADA) $ 0.709669Dogecoin (DOGE) $ 0.168174TRON (TRX) $ 0.223739Notifications
