USD Coin (USDC) is a leading stablecoin designed to maintain a 1:1 value with the United States dollar. This page provides a real-time overview of its price, market statistics, and key information for investors and users.
Understanding USD Coin (USDC)
USD Coin, trading under the symbol USDC, is a stablecoin launched in 2018. Stablecoins utilize underlying mechanisms, such as being backed by real-world assets, to provide a digital asset with a specific, stable price point. In the case of USDC, the goal is to maintain a value of one token for one U.S. dollar.
Built using the Centre Consortium's open-source framework, USDC is governed by a group that includes major industry players like Circle and Coinbase. Each USDC token is purportedly backed by a reserve of U.S. dollars and short-term U.S. government debt, making each unit redeemable for one dollar. The stablecoin operates in a regulated environment, with the reserves being regularly attested to by the independent accounting firm Grant Thornton.
USDC exists as a digital asset on multiple blockchain networks. While it began as an ERC-20 token on the Ethereum blockchain, it has since expanded to other major networks. This multi-chain presence increases its utility across various decentralized applications and trading platforms. Qualified institutional participants can mint and redeem new USDC, provided they meet specific regulatory and operational requirements.
USDC Price and Market Performance
The primary design purpose of USDC is to maintain parity with the U.S. dollar. Its price is therefore extremely stable, especially when compared to more volatile cryptocurrencies like Bitcoin or Ethereum. Minor fluctuations of a fraction of a percent can occur due to market dynamics on exchanges, but these are typically short-lived as arbitrage opportunities allow traders to correct the price back to its $1.00 peg.
The market statistics provide a snapshot of its stability and scale:
- Market Capitalization: This represents the total value of all USDC in circulation.
- 24-Hour Trading Volume: This indicates the total value of USDC traded across major exchanges in the last day, reflecting its high liquidity.
- Circulating Supply: This is the number of USDC tokens currently available and being used in the market.
For the most accurate and up-to-date pricing, it is essential to check a live chart on a reputable data aggregator or exchange. 👉 View real-time price data and charts
Is USDC a Risky Investment?
The term "investment" may not be the most accurate way to describe holding USDC. Unlike speculative assets, its value is not intended to appreciate. Instead, it functions primarily as a medium of exchange and a store of value within the digital asset ecosystem, much like a digital dollar. The primary risks associated with USDC are not related to market volatility but rather to potential regulatory changes or issues concerning the transparency and solvency of the reserves backing the stablecoin. However, its regulated nature and regular audits are designed to mitigate these concerns.
Key Market Metrics for USD Coin
Monitoring key metrics is crucial for understanding the scale and stability of any digital asset. For a stablecoin like USDC, these metrics confirm its peg health and adoption.
Market Statistics:
- Market Cap: ¥373.748 Billion
- 24h Volume: ¥36.581 Billion
- Circulating Supply: 52.188 Billion USDC
- Total Supply: 52.188 Billion USDC
- Year-to-Date Return: -0.20%
Price Data:
- Current Price: ~¥7.16
- 24h Open: ¥7.15
- 24h High: ¥7.16
- 24h Low: ¥7.15
- 52-Week High: ¥7.95
- 52-Week Low: ¥6.97
- All-Time High: ¥7.76
Frequently Asked Questions (FAQ)
What is USD Coin (USDC) used for?
USDC is primarily used as a stable medium of exchange in the cryptocurrency world. Traders use it to hedge against volatility, move value between exchanges quickly, and earn yield through lending and staking protocols. It is also a cornerstone of the decentralized finance (DeFi) ecosystem.
How is the value of USDC kept stable?
The value of USDC is maintained through a system of arbitrage and redeemability. If its price falls slightly below $1, traders can buy it at a discount and redeem it for a full dollar with the issuer, making a profit and pushing the price back up. Conversely, if the price rises above $1, new USDC can be minted and sold on the market to bring the price down.
Where can I buy and store USDC?
USDC is available on virtually all major cryptocurrency exchanges. You can purchase it using fiat currency or other cryptocurrencies. For storage, you can keep it in your exchange account or transfer it to a private cryptocurrency wallet that supports the ERC-20 standard or other compatible blockchain networks.
Is USDC safer than other stablecoins?
Safety depends on the structure and transparency of the stablecoin. USDC is considered one of the more transparent and regulated options, with regular audits of its dollar-backed reserves. However, all stablecoins carry some degree of regulatory and counterparty risk, which users should research thoroughly.
Can USDC be converted back to cash?
Yes, one of the core features of USDC is its redeemability. Through supported platforms and institutional issuers, holders can convert their USDC tokens back into U.S. dollars, which can then be withdrawn to a traditional bank account.
What blockchains support USDC?
Originally an Ethereum token, USDC is now available on several leading blockchains, including Algorand, Solana, and Stellar. This multi-chain approach allows users to choose the network that best suits their needs for speed and transaction costs. 👉 Explore more strategies for using multi-chain assets