Smart Money Investors Remain Skittish Over USD Coin (USDC)

• Analyst Andrew T tweeted that smart money investors are still staying away from USDC.
• The tweet added that USDC’s recent re-peg was mainly retail driven.
• USDC’s price has recovered 3.27% over the last 24 hours.

Crypto analyst Andrew T (@Blocknalia), who is also part of the Nansen.ai team, tweeted this morning that smart money has not been buying USDC. He shared that USDC’s recent re-peg was retail-driven and that institutional and retail money remain skittish.

One thing I'm keeping my eye on: Smart Money is not buying USDC, and the total amount held by Smart Money Wallets as well as overall Smart Money addresses are both at multimonth lows.

The repeg was retail-driven, institutional and professional money remains skittish pic.twitter.com/CyjFezTJjx

— Andrew T (@Blockanalia) March 13, 2023

In his tweet, Andrew T stated that the total amount of USDC held by smart money wallets as well as overall smart money addresses are both at multi-month lows.

USDC has recovered its peg to the U.S. Dollar somewhat after its price rose 3.27% over the last 24 hours according to CoinMarketCap. As a result, USDC’s price stands at $0.9911 at press time.

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