https://usdc.cool - I wanted to track the supply of the stablecoin USDC, and check against their audits. Another benefit was trying to see what happens to the USDC supply during certain crypto events, like crashes or pumps.
Turns out it's quite interesting. When crypto goes down, many folks sell into USDC, which causes more USDC buying by the exchanges. But when crypto goes up, people often get in with USDC.
So basically: USDC goes up. And since this money is sitting in Circle's bank accounts, imagine what happens when the Feds raise interest rates. $CND is the SPAC supposedly taking Circle public, if it ever goes through.
Turns out it's quite interesting. When crypto goes down, many folks sell into USDC, which causes more USDC buying by the exchanges. But when crypto goes up, people often get in with USDC.
So basically: USDC goes up. And since this money is sitting in Circle's bank accounts, imagine what happens when the Feds raise interest rates. $CND is the SPAC supposedly taking Circle public, if it ever goes through.