Live USDC price analysis
The current real-time price of USD coin is $0.9993and its trading volume is equal to US$4,682,495,715 in the last 24 hours. USDC price has fell on
0.03%
on the last day and decreased by
0.06%
in the last 7 days. It is important to note that the current market capitalization of USD Coin is US$28,030,982,035Speaking of circulating supply, USDC has 28 049 790 486 coins. Currently, USD Coin’s market rating is #8.
US dollar coin price today
57.47%
below
always on top and that’s it
110.78%
higher
always at a low level.
All data and prices are updated in real time. The most active and popular exchanges for buying or selling USDC are Binance, Kucoin & Kraken. Find more cryptocurrency exchange options on our Cryptocurrency exchange tracker. The most secure hardware wallets to store your cryptocurrency: Ledger And Trezor.
What is the US Dollar Coin (USDC)?
USD Coin (USDC) is a smart contract system. stablecoin it is backed by the US dollar. One USD coin is worth one US dollar. Every US dollar backed by USD coins is held by regulated financial institutions. These institutions are audited every month to ensure that they truly support active USDC tokens. Monthly certification reports are published on the Center’s website.
Additionally, if you look at the USD Coin price chart above, you will notice that the price of USDC is actually quite stable.
Since USD coins are stored on Ethereum networks, they are based on ERK-20 token model. So this means that USDC tokens can be integrated with a huge number of decentralized applications based on Ethereum..
Essentially, USDC is an alternative to other stablecoins such as Tether (USDT). The USD Coin crypto project aims to provide people with an asset that can be used as digital money in a world that is becoming more and more digital every day.
Additionally, USDC is one of the biggest competitors to USDT in the stablecoin space. Especially considering the fact that USDC coins are more transparent and reliable among cryptocurrency enthusiasts than USDT tokens, which is causing some controversy.
Developers of the USD coin
The USD coin was originally released in 2018 by the Center Consortium. Center is an open-source platform founded by two major players in the cryptocurrency world – Coinbase (a crypto exchange) and Circle (a peer-to-peer payment service). The platform’s goal is to create a decentralized network based on stablecoins based on fiat currencies.
As the founders of Circle stated, The main goal of the USDC crypto project is to create a more efficient and inclusive global economy that unites every person around the world..
US dollar coin success
One of the main reasons for the success of the USDC crypto project is the transparency of the sources of its funds. Except, The community has a strong opinion regarding the funds of the USD Coin project.. For example, when Coinbase began discussing a strategy to diversify USDC funds, there was strong dissent from the community. Thus, the proposal was quickly rejected.
In addition, the transparency of UDSC tokens is ensured by the fact that Circle and Coinbase are quite large companies with a large amount of funds. This means that users can probably be guaranteed to receive $1 for withdrawing a $1 coin.
Additionally, the fact that the USDC crypto project has a solid reputation compared to USDT gives it a significant advantage as it gradually challenges USDT’s dominance.
Usage options for the USD coin
The main advantage of USD coins or stablecoins in general is that they are a great tool for reducing crypto market volatility. Since the prices of most crypto assets in the market tend to fluctuate wildly, USD Coin’s stable price helps reduce volatility in the overall market.
This is also the reason why many investors use USD coins as a plan B during periods of huge price fluctuations in the cryptocurrency market. Thus, they exchange their assets for USDC tokens, maintaining their value during periods of high volatility. Therefore, they do not need to completely withdraw their funds from the market.
Additionally, it is believed that USD coins (or other stablecoins for that matter) Can be used as a payment method by various businesses. Since its value is pegged to the US dollar, there should be little inconvenience when using UDSC tokens as an additional digital payment method.
Tokenomics of dollar coins
In theory, there are no restrictions on the supply of USDC. Whenever there is demand, more tokens can be released.
Initially, Circle and Coinbase are the first issuers of dollar coins. However, USDC can have more than one issuer, which is not the case with other stablecoins. This is because the Center Consortium is an organization that other issuers who wish to become part of the USDC network can join. Of course, the Center continues to be responsible for the legal structure and development of USD Coins.
However, it is very important to note that USDC issuers are required to regularly declare to the Center the amount of US dollar reserves they hold.. This is necessary to ensure that one USD coin always equals one US dollar.
Finally, returning to the concept of USD Coin price, it should be noted that stablecoins can also fluctuate a bit. However, their price range is usually very close to $1 (or any other fiat currency). You can see this for yourself by looking at the USDC price chart above.
What is the trading volume of USD Coin in the last 24 hours?
USDC has trading volume US$4,682,495,715 in the last 24 hours.
What is the highest USD Coin price ever?
USDC has the highest price $2.35which was achieved at November 16, 2021 (2 years 3 months ago).
What is the lowest USD Coin price ever?
USDC has the lowest price $0.4741which was achieved at December 11, 2022 (1 year 2 months ago).
Which exchanges are best for buying and selling USDC?
Currently the most active and dominant exchanges for buying and selling USD Coin are Binance, Kraken & Kucoin. The most popular US dollar coin trading pairs USDC/USDT
(on
Binance
),
USDC/vUSDC
(on
Venus
),
USDC/USDT
(on
DigiFinex
). Go to Catalog of crypto trades to access customized and exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.
Which hardware wallets are the most secure for storing USDC?
According to the process of in-depth analysis and testing, Ledger And Trezor are one of the most secure and popular hardware wallet options for storage US dollar coin. For exclusive discounts and promotions on the best crypto wallets, visit Catalog of crypto trades.
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