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USDC
The live USDC (USDC) price is currently ā, ā ā in the last 24-hours. USDC is currently ā by market capitalization, which is calculated by multiplying the current price (ā) with the circulating supply (ā), and has a total supply of ā. Buy USDC at MoonPay's current rate:
USDC (formerly USD Coin) is a type of cryptocurrency known as a "stablecoin". It is designed to be pegged to the value of the US dollar, meaning each USDC token represents one US dollar. The main purpose of stablecoins like USDC is to provide a reliable and stable digital asset that can be used for transactions on the blockchain.
USDC is issued by Circle, and until recently was part of a larger organization called Centre Consortium, which also included companies like Coinbase.
The USDC stablecoin is backed by reserves held in traditional regulated financial institutions, such as cash and short-term US Treasury bonds. These reserves ensure that each USDC token is fully backed by its equivalent value in US dollars, providing stability and confidence in its value.
One of the main advantages of USDC is its ease of use and accessibility. It operates on various blockchain platforms such as Ethereum, Algorand, Stellar, and Solana, enabling fast and seamless transactions that can be conducted around the clock.Traders and investors often use USDC to hedge against market volatility, as it provides a stable digital asset that can easily be converted into fiat currency when needed. USDC serves as a convenient way to store and transfer funds on cryptocurrency platforms, thereby avoiding the fees and time delays associated with fiat money transfers.
Cryptocurrency platforms, to avoid the fees and time delays associated with fiat currency transfers.
USDC was listed on exchanges in October 2018 at a price of $1.0043. The USDC price maintained its peg throughout the year, staying as close to $1 as possible. USDC was trading at $1.01 by December 2018.
USDC briefly fell below its peg in the first half of 2019 and traded slightly above $1. In the second half of the year, it started trading below $1. By December 2019, USDC was trading at $1.0029.
In 2020, USDC experienced significant fluctuations in value. In February, USDC lost its peg, reaching a peak price paid of $1.032. USDC later fell to its all-time low of just below $0.97 the following month.
The USDC price remained relatively stable in 2021 without price fluctuations.
The price of USDC remained stable in 2022.
In March, the USDC price decoupled andĀ fell to as low as $0.94 before recovering and stabilizing.
USDC aims to provide price-stable digital money backed by fiat reserves to overcome monetary barriers. The design of USDC follows a fiat-collateralized approach where each unit of the tokenized fiat currency is backed by an equivalent amount of collateral.
Circle (formerlyĀ CENTRE) establishes a network of token issuers thatĀ hold reserves and provide liquidity for USDC tokens. These members must meet regulatory requirements, undergo audits, and maintain solvency. Circle and CENTRE themselves have provided governance and ensure thatĀ Compliance and solvency from all of its licensed issuing members.
The interaction between a token-issuing member and Circle is facilitated byĀ smart contracts and a set of protocols. The smart contracts define the rules and functionality of the network, while the protocols govern the interactions between participants.
To ensure security and scalability, Circle usesĀ state channels. State channels allow participants to securely update shared states without conducting transactions on a distributed ledger. Participants agree on an initial state on the ledger, and subsequent updates are performed off-chain. The final state is then posted to the ledger when participants agree to close the channel.
State channels can also be linked to enable payments to additional parties. This allows transfers via intermediaries without requiring direct channels between all participants.Ā Hashed Timelock Contracts (HTLCs) Ensuring the secure execution of chained payments.
Nodes representing network participants consist of smart contracts deployed on Ethereum and code that interacts with Ethereum and the smart contracts. Circle provides the flexibility to replace or extend various components of a node throughĀ well-defined modules and API interfaces.
USDC was founded byĀ Circle, a peer-to-peer payment technology company co-founded byĀ Jeremy Allaire andĀ Sean Neville in October 2013.
USDC is backed by Circle and Coinbase, along with other members of the former consortium called CENTRE.
USDC enables instant and low-cost person-to-person and person-to-merchant payments usingĀ digital wallets. USDC facilitatesĀ cross-border payments by providing a common currency standard that eliminates the need for currency conversions and reduces transaction costs.
USDC offers stability and fiat connectivity within crypto assetĀ exchanges and for Token Swaps. Benutzer kƶnnen ihre volatileren KryptowƤhrungen gegen USDC eintauschen und so einen relativ stabilen Wert beibehalten, wƤhrend sie weiterhin am Kryptomarkt teilnehmen.
CircleĀ plant, einen Dienstanbietermechanismus anzubieten, um Vertrauen, IdentitƤtsĆ¼berprĆ¼fung, Zahlungsabwicklungsregeln und Compliance-Verpflichtungen wie Know Your Customer (KYC) und Anti-GeldwƤsche (AML)-Anforderungen zu unterstĆ¼tzen.
The composition of theĀ USDC reserve contributes to the uniqueness of USDC compared to other stablecoins and crypto assets.
80% of the reserve is composed of short-term U.S. Treasury securities, which carry the full faith and credit of the United States and are highly liquid. The remaining 20% is held as cash deposits within the U.S. banking system to meet immediate liquidity needs.
Daily third-party independent reporting ensuresĀ transparency and accountability of the reserves down to each individual security.
In the unlikely event of a Circle bankruptcy, the USDC reserves would remain segregated and protected to ensure the interests of USDC holders are safeguarded.
In contrast to some other cryptocurrencies likeĀ Bitcoin, USDC does not have aĀ mining orĀ staking process, although USDC is a popular token pair used inĀ liquidity poolsis in use.
The all-time high of USDC is $1.032, reached on February 2, 2020.
The all-time low of USDC is $0.9683 (sometimes as low as $0.877), recorded on March 11, 2023.
USD Coin has no fixed upper limit for its total issuance. The decision to issue new tokens is based on Circle's internal policies. Today, the circulating supply of USDC is ā tokens, with a corresponding market value in USD.
You can buy USDC directly via MoonPay or through one of our many partner wallets such as Trust Wallet and Exodus. MoonPay's simple widget makes it easy to purchase USDC with credit or debit card, bank transfer, Apple Pay, Google Pay, and more payment methods. You can also top up your wallet in euros, pounds, or dollars and use your MoonPay balance to buy cryptocurrencies like USDC. Once the balance is topped up, use it for faster, cheaper transactions with higher approval rates. When you're ready to withdraw, enjoy fee-free USDC transfers directly to your bank account when cashing out via bank transfer.
The price of USD Coin (USDC) is primarily determined by its peg to the US Dollar. USDC aims to maintain a fixed 1:1 ratio with the dollar. This means that for every USDC in circulation, an equivalent amount of dollars should be held in reserve. To achieve this, Circle uses a fiat-backed stablecoin model. This means Circle holds a reserve of dollars in its treasury to support the circulating supply of USDC.
