USDC is currently trading at $0.9997, slightly below its pegged value of $1, with a market cap of $60.62 billion, ranking it 7th among cryptocurrencies. The stablecoin has a total circulating supply of 60.64 billion USDC, fully backed by reserve assets. However, recent data shows a concerning trend in money flow. Over the past 24 hours, USDC experienced a net outflow of $202.32 million, with significant large-scale sell orders totaling $1.046 billion, against buys of $909.23 million. The last 24 hours also saw substantial sell pressure, with the most recent five-day inflow data showing a dramatic reversal from a strong positive inflow of 219.62 million USDC to a sharp outflow of -141.78 million and -151.56 million USDC in the last two days.
This massive outflow suggests increasing selling pressure and potential loss of confidence among holders, despite USDC maintaining its peg. The sell-off is visible in the dominance of sell orders over buys, particularly in large orders. If this trend continues, it could challenge USDC’s ability to maintain its peg, especially in times of market stress. While USDC remains one of the most trusted stablecoins, with transparent reserves and a strong regulatory foundation, this sudden shift in money flow indicates rising caution among traders.
