What is USD Coin?
Launched in September 2018 by The Centre Consortium, the USD Coin (USDC) cryptocurrency is a stablecoin backed by the US dollar at a 1:1 ratio. Each token represents a dollar held in reserve in the form of cash or US Treasury bonds.
There are just over 3.08 Billion USDC in circulation, and the coin has a market cap of $3,082,917,675 USD. The USDC coin is traded on several of the large cryptocurrency exchanges.
Creating a Stablecoin
USD Coin was created as a stable currency for crypto traders, allowing businesses to accept digital assets as payment. An ERC-20 token that utilizes open-source smart contracts, USD Coin offers a viable ecosystem that uses real-world currency in blockchain applications.
While there are other stablecoins on the market, USD Coin:
Assures users can use the cryptocurrency without any issues because the circulating supply is backed by regulated and licensed financial institutions, maintaining a reserve that verifies the token’s dollar value.
Complies with regulations, allowing for international expansion.
Offers the speed, openness, and security of a crypto-powered network with the stability of existing central bank money.
Paves the way for making a global digital currency possible because The Centre Consortium is well-funded, giving the stablecoin validity.
The Centre Consortium
Circle and Coinbase founded The Centre Consortium. Circle is a peer-to-peer payment services company, and Coinbase is a cryptocurrency exchange. They recently updated the USDC protocol and smart contract to make it easier for the cryptocurrency to be used for payments and peer-to-peer transactions.
The Centre Consortium operates as an open-source framework that allows members to issue USDC tokens if they meet regulatory compliance and audit requirements. Issuers use the Centre network to verify, mint, and validate USDC tokens that their customers want to purchase, trade, and use.
What are USD Coin Frequenty Asked Questions?
Where does USD Coin (USDC) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, USD Coin currently ranks in position 11 out of the thousands of cryptocurrencies. It is also important to consider USD Coin‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. USD Coin has a market cap of $ 5,478,966,463, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 580,673,849,205, Litecoin at $ 8,387,462,662, Ethereum at $ 146,202,450,198, Tether at $ 25,472,772,366, and XRP at $ 11,637,563,368.
What is the price of USD Coin (USDC) today (updated in realtime)?
The current price of USD Coin is $ 0.997058 in USD. (The price in Euros is 0,821080 €; and the price in Bitcoin is Ƀ 0.00003200 BTC.)
What is USD Coin‘s (USDC) market supply?
The total available supply of USD Coin is 5,487,750,833 USDC. The total supply of USD Coin is 5,489,538,719 USDC.
What is the 24 hour volume for USD Coin (USDC)?
The 24 hour volume for USD Coin is $ 1,736,452,973.
How has USD Coin (USDC) performed recently?
USD Coin‘s price has decreased in the last 24 hours by -0.29%. This compares with a seven day change of -0.45%. The trading volume over the last 24 hours was $ 1,736,452,973. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is USD Coin (USDC) official website?
Links to USD Coin‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has USD Coin (USDC) performed well historically?
Here is a chart showing how USD Coin has performed historically.
Where Can I Buy USD Coin (USDC)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
USD Coin News
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- Apple updates iOS to fix crypto wallet security vulnerabilitiesCointelegraph.com News - 12 hours agoCoinbase’s head engineer is warning iOS users to update their mobile devices as soon as possible. Apple has issued new security updates for its mobile…
- Following in Grayscale's footsteps, new Bitcoin trust goes public in CanadaCointelegraph.com News - 13 hours agoThe investment firm said it had no plans to sell shares of its Bitcoin trust in the U.S. Canada-based investment manager Ninepoint Partners has launched…
- Bitcoin price drops under $30K as 'moment of truth' arrives, says traderCointelegraph.com News - 14 hours agoBitcoin price action mimics recent lows, but traders are all focused on GameStop and the power of crowd investment. Bitcoin (BTC) retested the $30,000 support…
- Bitmain's Antminer says Bitcoin rig sales won’t be affected by CEO departureCointelegraph.com News - 14 hours agoAfter corporate infighting temporarily halted chip shipments in 2020, Bitmain’s Antminer team says business will resume as normal following former CEO Jihan Wu’s departure. Bitcoin…