USD Coin (USDC)
|Volume / Market Cap||0.0624|
|Total Supply||55,870,719,731 USDC|
USD Coin is currently trading at $1.00, after a price change of -0.03% in the last 24 hours.
Ranked as cryptocurrency #4 by capitalization today, USDC market cap is valued at $55,874,866,256. USDC trading volume reached $3,484,815,095 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on USDC coin price prediction page.
What is USD Coin?
USD Coin is a digital currency that is linked to the United States Dollar. Since it has a one-to-one relationship with the USD, it is considered a stablecoin. It is partnered with leading systems like Hedera Hashgraph, Tron, Solana, Algorand, Stellar, and Ethereum. This cryptocurrency was introduced in October 2018, by CENTRE, a company founded by Circle and supported by Bitmain and Coinbase.
Currently, there is no way to mine this digital asset. The only way to acquire it is to transform USD into USD coins. First, the purchaser transfers USD to the holder who creates the same amount of USD coins via smart contracts. For the reverse process, the holder uses the same method to purchase USD for USD coins. The buyer is then provided with an equivalent number of tokens. However, unlike the first operation, there are trading fees involved.
Since this crypto coin uses different networks, there is no single consensus protocol. Due to the transparent stablecoin framework, creators can use fiat currencies in decentralized applications. You can use it as a way to protect yourself against value fluctuations in the crypto market.