USDC Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident

On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.13 billion in trades over the past day, with more than 55% of those swaps involving USDC against wrapped ether, and the stablecoin tether. During the last 24 hours, USDC emerged as the most dominant trading pair on dex platforms. USDC Trades Below $0.975 Accounted for More Than $26 Billion on Saturday Based on statistics, the stablecoin usd coin (USDC) recorded $26.73 billion in global