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What is USD Coin (USDC)?what is the price of USDC?

What is USD Coin (USDC)?what is the price of USDC?

About USD Coin

USD Coin (USDC) is a type of cryptocurrency known as a stablecoin. Stablecoins are a category of digital assets that maintain a stable value relative to a specific asset or a pool of assets. In the case of USDC, its value is pegged 1:1 with the United States Dollar. This means that each USD Coin token corresponds to one US dollar.
USD Coin was launched in September 2018 by CENTRE, a collaboration between cryptocurrency firms Circle and Coinbase. The goal of USD Coin is to bridge the gap between traditional financial systems and digital economies, bringing the benefits of both worlds together. By pegging USDC to the US dollar, the stablecoin ensures the stability of value, a trait that many cryptocurrencies lack due to their volatile nature.
In March 2023, following Circle's acknowledgment of a substantial US$3.3 billion cash reserve with Silicon Valley Bank, the value of its USDC stablecoin experienced a momentary depeg, dropping to 88 cents from its typical one-dollar valuation. The USDC depeg fear caused panic selling, and Binance and Coinbase both confirmed they would temporarily suspend USDC conversion in that period.

USD Coin price

Today (updated at 12:00 on August 26, 2023):
The live price of USD Coin is $1 per (USDC / USD) today with a current market cap of $25,917,322,378.49 USD. The 24-hour trading volume is $2,913,029,391.64 USD. USDC to USD price is updated in real time. USD Coin is -0.01% in the last 24 hours. It has a circulating supply of 25,916,752,000 .