USDC Plummets 50% in 24 Hours Amid Market Volatility

The exchange rate for Nigerian Naira (NGN) to USDC has experienced a significant decline, dropping by 50% over the last 24 hours. As of August 8th at 19:42 GMT+8, 100 NGN is equivalent to approximately 0.07324016 USDC. This translates to a substantial decrease in value for holders of USDC.

The current market capitalization of USDC stands at ₦98.46T NGN, with a circulating supply of 72B USDC. Over the past day, the cryptocurrency has seen considerable volatility, resulting in this significant price drop. The last recorded all-time high for NGN was ₦1.04, while the current exchange rate is around ₦0.0007324016187340021 NGN per USDC.