NGN Plummets 50% Against USDC

The Nigerian Naira (NGN) has seen significant volatility in its exchange rate against the USDCoin (USDC), dropping by a whopping 50% over the last 24 hours.

According to Bybit's exchange rates, 5 NGN is currently equivalent to approximately 0.00366251 USDC.

The current market capitalization of USDC stands at ₦98.46T NGN, with a 24-hour trading volume of ₦11.57T NGN.

USDC has seen a significant decrease in value over the past day, but its circulating supply remains stable at 72B units.