Cryptocurrency USD Coin (USDC) Rate | Price | Charts | Market capitalization
The USD Coin rate today is 0.999964 USD, and the trading volume for 24 hours is 7,749,788,030 USD. The crypto asset has risen by 0% in the last 24 hours. At the moment, the market capitalization of the coin is 53,950,234,409 USD, and has 53,952,176,687 coins in circulation with max. delivery of 69,158,976,379 coins USDC.
What is USD Coin (USDC) cryptocurrency?
USDCoin (known by its ticker symbol USDC) is a stablecoin pegged to the US dollar in a 1: 1 ratio. One unit of this cryptocurrency in circulation is fortified by 1 dollar held in reserve in the form of cash and short-term US Treasury bonds. The Center consortium behind the asset claims that USDC is produced by managed financial institutions.
Stablecoin was born in limited quantities in September 2018. We can say that the mantra of USDCoin is “digital money for the digital age”, and the stablecoin itself was created for people whose online transactions are becoming a significant part of their lives.
There are several options for using the USDCoin coin. The creators say that it not only provides a safe place for crypto traders during volatile processes, but also allows companies to accept payments with digital assets and revitalize entire sectors, including gaming applications and decentralized finance.
The very essence lies in creating an ecosystem in which USDC will be accepted by a huge number of exchanges, wallets, various services and applications.
Who are the founders of USD Coin cryptocurrency?
It is an amalgamation of two founding members. The first is the peer-to-peer payment company Circle, and the second is the cryptocurrency exchange Coinbase. Other cryptocurrency platforms are open to cooperation with this association.
Explaining the reasons behind USDCoin, Circle founders Sean Neville and Jeremy Aller wrote: “We believe that an open Internet of value exchange can deeper transform and integrate the world, thereby eliminating false economic boundaries and creating a more efficient and wider global market. It unites every person on Earth. "
In 2020, Circle and Coinbase jointly announced a major update to the USDCoin protocol and smart contract. The goal of these improvements is to make it easier to use USDC for daily payments, commerce, and peer-to-peer transactions.
What makes USD Coin (USDC) unique?
The stablecoin market has become very crowded in recent years, but USDCoin wants to be head and shoulders above the competition in some ways.
The first is about stability, and gives people a guarantee that they can withdraw 1 USDCoin and get 1 dollar in reward without any difficulties. It is reported that a huge accounting company has been ordered to analyze the level of real money held in reserve and ensure that it is proportionate to the number of coins in circulation.
Unlike some cryptocurrency companies, Circle and Coinbase also came up with regulatory requirements and this paved the way for international expansion. These projects have excellent funding, which gives stablecoin confidence.
How many USD Coin coins are in circulation? What is their price and course?
At the moment, the maximum supply price of USD Coin is 69,158,976,379 coins USDC, 53,952,176,687 USDC is in circulation.
Today the price of the USD Coin coin is 0.999964 USD, with a daily trading volume - 7,749,788,030 USD, market capitalization - 53,950,234,409 USD.
It is a little difficult to name a specific amount here, because most likely the amount of USDCoin that can exist is immeasurable. New tokens are produced according to demand when someone wants to buy them for their modest dollar.
However, there are factors that have helped the USDC to explode in popularity for many years, most in 2020. One of them is the unexpected leap in prominence of decentralized finance. USDCoin is a standard thing across many DeFi protocols, given how it serves as a transition to the broader ecosystem.
How is the USDC network secure?
All coins in circulation actually represent the ERC-20 token that resides on the Ethereum blockchain. The biggest advantage here is how it can be combined with Ethereum-based applications. As we said earlier, the security and confidence in this stablecoin is provided by the fact that the US dollar is firmly held in reserves.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.