What Does USDC Coin Market Cap Rise Mean? (SHIBA INU)

[Coingump]

USDC Coin Reached All-time High Market Cap. A stable coin that is widely used by investors on the Coinbase exchange. Recently, Coinbase made the following announcement on its official twitter account: "We 💙 NY. It's official, SHIB is now available to trade, buy, sell and store on Coinbase for NY residents."

Do you think this could herald a parabolic SHIBA INU rise?

[Coingump]

Am curious as to what that means because as far as I know stablecoins don't get to increase value like none stable coins do,  so how they reach ath being a stable coin, probably new usdc is minted into circulation! Am a bit lost,
And as for shiba inu being available to NY residents, yeah perhaps it can trigger another price movement, since the news has opened more opportunity for new buyers.

With stable coins, it is possible to buy coins directly on almost any exchange. For example, let's say I have ETH. I will sell 20% of it to realize the profit from this investment. I would like to make a direct purchase without being affected by price movements while selling and without converting to another coin when needed.

In this case, the most logical way is to switch to stable coins such as USDT or USDC.

I can use it instantly when I make a new investment.

To look at it from a different angle: the user who deposits fiat money on the exchange can choose to buy stablecoins such as USDC or USDT. So you don't have to decide instantly what to buy. When he catches the appropriate price movement, he can buy the coin he wants directly.

[Doell]

well currently the price of shiba is getting higher and the cap is also in the top 20 in all marketcap and basically it's because of coinbase indeed ,the biggest wallet and market is hitting the shiba community hard ! yes maybe it's rise shiba over time later

[Findingnemo]

 Stable coins are backed by the actual value so company can print as much coins as they want and literally the supply is unlimited so whenever there is a need the supply increases along with market cap which happened to Tether now USDC and probably other stable coins as well.

[2girls]

SHIBA INU its a very good project in this coin price day by day a rise and its very easy to say it will get bright future amazing coin so it price are more high for a few time so its a very strong coin and then they show there position.
So in this case they use USDC and other stable coin to they deliver more coin in the market and all the people easily buy a this great coin.

[Pffrt]

But but what's the relation with USDC marketcap rise with Shiba Inu rise? USDC marketcap rise means there's more of this shit stablecoin supply on the market. As like govt can print more fiat, USDC is also more or less same. How that can have a relation with Shiba Inu rise? Did you by any chance mean that all these more USDC will be invested into Shiba Inu?  Why not in BTC, ETH or DOT? Come on buddy.

[Coingump]

But but what's the relation with USDC marketcap rise with Shiba Inu rise? USDC marketcap rise means there's more of this shit stablecoin supply on the market. As like govt can print more fiat, USDC is also more or less same. How that can have a relation with Shiba Inu rise? Did you by any chance mean that all these more USDC will be invested into Shiba Inu?  Why not in BTC, ETH or DOT? Come on buddy.

There is no argument for this. Just a guess.

[tvplus006]

Am curious as to what that means because as far as I know stablecoins don't get to increase value like none stable coins do,  so how they reach ath being a stable coin, probably new usdc is minted into circulation!..

The capitalization of all stablecoins increases only due to the issuance of new coins. And given the fact that the capitalization of the crypto market is approaching $ 3 trillion, the number of different stablecoins is constantly increasing, which confirms the rating of coinmarketcap. As for USD Coin (USDC), its capitalization has nothing to do with SHIBA INU.

[batang_bitcoin]

Do you think this could herald a parabolic SHIBA INU rise?

No, it's still the demand of shiba inu that will make the rise. Maybe there's this logic from what we've been seeing from these stable coins. Like with more printing of Tether and the sudden price pump for bitcoin. But I don't think it's that applicable to USDC/Shiba. It just so happen that there's a larger demand and Coinbase has to take that opportunity of making the pair possible since there's a large demand for shib.

[gwdf1]

USDC is a stablecoin so its price can't be pumped while its capitalisation can increase not by growth of the price but by increasing of amount of coins, so when demand is high, Coinbase ( management company) releasing new coins but the price is stable,and company really can confirm this collateral for USDC so rising of USDC cap means that they get more USD and release new USDC.

[Pffrt]

There is no argument for this. Just a guess.

A guess on which assumption? What's the base of your guess/speculation? Is there any? If you don't have one, I will not surprised that you are really shilling for Shiba Inu behind the scene. I don't think speculation should be without any assumption.

As I said, it's more correlated with BTC. Did you see the pump of BTC today? I believe we are going to have a big weekly candle.