Fundamental Overview đ
USD Coin (USDC) is a US dollar-pegged stablecoin issued by Circle, adopting a 1:1 reserve mechanism, with each USDC backed by US dollar cash and short-term US Treasury bonds. As a mainstream stablecoin supported by Bitget exchange, USDC is actively traded in both spot and contract markets. The current spot price is stable at $1.0006, with a 24-hour trading volume reaching 51.24 million USDT, indicating ample liquidity.
News Dynamics đ°
Recently, the stablecoin market has shown a polarization trend. On the positive side, Circle and Tether have collectively minted over $14 billion in stablecoins following recent market adjustments, with Circle alone creating $750 million USDC within a few hours. Stablecoin trading volume has surpassed Visaâs 30-day average level. S&P forecasts the RWA market will reach $2 trillion by 2028, with USDC as a mainstream stablecoin directly benefiting.ambcrypto
On the risk side, the Yala stablecoin ecosystem suffered a severe blowâon September 14, Yala lost $7.64 million USDC due to a cross-chain bridge vulnerability. Although the team injected $5.5 million in YU stablecoins and recovered part of the funds, liquidity pressure persists. Euler has set Yalaâs lending limit to zero. This incident exposed DeFi cross-chain security risks but poses no direct threat to USDCâs credit.theblockbeats
Technical Analysis đ
spot price performance is extremely stable, with a fluctuation range of only $0.9997â$1.0011 over the past 18 days, and an average daily volatility below 0.1%, fully meeting stablecoin expectations. The market fear index is currently at an extremely low level, with the latest data at just 11 points, sharply down from over 70 in mid-September, reflecting a shift in market sentiment from extreme panic to rationality.
Contract market data shows USDCUSDT perpetual contracts hold $2.46 million in open interest, with long positions accounting for 68.8% and shorts 31.2%, indicating a healthy long-short ratio. The funding rate is 0.000032 (annualized about 11.7%), at a low level, indicating stable market expectations. The spot-contract basis is -0.00039 (negative basis), meaning the contract price is slightly lower than spot, with limited arbitrage space.
Contract Trading Suggestions đŻ
Aggressive long positions are not recommended currently. Although USDCâs fundamentals are solid, as a stablecoin, its nature dictates minimal price fluctuations, limiting contract trading profit potential. Detailed analysis:
Limited basis arbitrage opportunities: The negative basis of -0.00039 only covers part of the trading fees (spot 0.1% + contract 0.08% = 0.18%), resulting in negative arbitrage returns.
Moderate hedging strategy: If you hold a large amount of USDC spot for long-term custody, consider shorting a small position in the contract market (no more than 5% of spot holdings) to hedge risks, leveraging the low funding rate for slight gains. Suggested entry price is 1.0006, stop loss at 1.0015, with a target annualized return of 3-5%.
Risk warning: Although stablecoin de-pegging risk is low, it is not zero (historically, USDC briefly dropped to $0.87 during the Silicon Valley Bank incident). It is recommended to strictly control leverage (no more than 2x) and set stop losses.
Conclusion: USDC is suitable as a risk hedging tool rather than a source of profit. For contract profits, it is recommended to switch to more volatile mainstream coins.
Disclaimer: This analysis is for reference only and does not constitute investment advice. Although stablecoins carry lower risks, de-pegging and liquidity risks still exist. Please fully understand risks and make cautious decisions before trading. Analysis time: November 19, 2025 00:02 (Hong Kong Time, UTC+8)
