Performance analysis of the USDC/USDT trading pair over the past 24 hours
$USDC
1. Trading pair:
* The pair is USDC/USDT. Both are stablecoins designed to maintain a value close to 1 USD. This means that price fluctuations between them are usually very minor.
2. Current price:
* The current displayed price is 0.9995.
3. Price performance over 24 hours:
* High over 24 hours: 0.9995 (this is the highest price the pair reached during the last 24 hours, and it almost matches the current price, indicating it may be at its last peak or around it).
* Low over 24 hours: 0.9992 (this is the lowest price the pair reached during the last 24 hours).
4. Trading range over 24 hours:
* The range between the highest and lowest price over 24 hours is very narrow: 0.9995 - 0.9992 = 0.0003.
* This very narrow range is expected for a pair consisting of two stablecoins, where the primary goal is to maintain a 1:1 value with the US dollar. Any significant fluctuations may indicate an issue with one of the pegs.
5. Percentage change:
* The displayed change is +0.03%. This is a very minor percentage change, confirming the stability of the pair.
6. Trading volume over 24 hours:
* 24h Volume (USDC): 942.42 million USD.
* 24h Volume (USDT): 941.79 million USD.
* The volumes are extremely large, which is normal considering that USDC and USDT are among the largest and most traded stablecoins in the cryptocurrency market. Large volumes indicate high liquidity and significant trading activity in this pair.
7. Technical indicators (notes from the chart):
* Candlestick chart: The chart shows that the price fluctuates within a very narrow range around 0.9995. The candles are short, confirming weak volatility.
* Exponential moving averages (EMA): The EMA(7), EMA(25), and EMA(99) lines are very close and are moving almost horizontally. This indicates no clear trend (neither bullish nor bearish), which is expected for a stablecoin pair.
Summary of performance analysis over 24 hours:
The USDC/USDT pair over the past 24 hours has shown very high stability with extremely minor price fluctuations within a range of 0.0003. The trading volume has been very large, reflecting high liquidity and ongoing activity in this vital pair in the cryptocurrency market. The percentage change of +0.03% confirms this stability.
This performance is typical for stablecoin pairs, where the primary purpose is to be used as a safe medium for storage or conversion between other cryptocurrencies and the US dollar, rather than for speculative trading that relies on significant price fluctuations.