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USDC is a digital stablecoin pegged to the value of the US dollar. To maintain its fiat-peg, the cryptocurrency is backed by fully reserved USD assets with an exchange rate of 1:1. One USDC should be equal to one real US dollar.
Launched in 2018, the stablecoin was created by Circle, a crypto finance company owned by Centre, with accompanying support from Coinbase. The token was originally built on the Ethereum blockchain, and as such was developed as an ERC20 token. However, it has now expanded to the Solana and Algorand blockchains. The parent company, Centre, is regulated by the Money Services Business and FinCEN in the US, with regular auditing taking place.
USDC can be traded and exchanged like any other cryptocurrency. Instead of cryptocurrency investors transferring funds back into fiat currency, Circle states that USDC allows users to transfer assets to a stablecoin that offers a 1:1 relationship with the US dollar. Stablecoins aim to be a calmer entry and exit platform to the sometimes volatile world of cryptocurrencies.
USD Coin (USDC) is the 5th largest cryptocurrency in the world by market cap, valued at $42,572,190,995. The current price of USD Coin is $1, which is -0.208% lower than yesterday. Prices have ranged between $1.01 and $0.977487 over the past 24 hours. All prices are listed in US dollars and accurate as of January 21, 2022 03:01 UTC.
| Coin symbol | USDC |
|---|---|
| Coin Marketcap | US$42,572,190,995 |
| Total USDC supply | 42,631,502,590 |
| Circulating USDC | 42,601,476,582 |
| Current price | US$1 |
| All time high | US$1.17 |
| Notable team members | Jeremy Allaire, Sean Neville, Brian Armstrong |
| Partnerships | Visa, Ripio |
| Industry | Stablecoins |
| Token uses | Stablecoin |
| Network | Ethereum |
Historical prices compared with the price of US$1.
| 1 hour | -0.17% |
|---|---|
| 24 hours | -0.21% |
| 7 days | 0.05% |
| 14 days | 0.01% |
| 30 days | -0.13% |
|---|---|
| 60 days | -0.22% |
| 200 days | -0.04% |
| 1 year | -0.08% |
Disclaimer: Cryptocurrencies, including USD Coin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of USDC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the USD Coin or any other cryptocurrency discussed.