What is the USDC stablecoin and how does it work? USDC is used extensively in popular decentralized finance (DeFi) apps such as Compound and Aave, and is also accepted as collateral for Dai in the MakerDAO system. USDC was initially launched on Ethereum as an ERC-20 standard token, but was later also made available on other blockchain platforms.
So far, the USD Coin price has largely stayed close to the targeted $1 peg. USDC was launched in September of 2018 by CENTRE, a consortium established by prominent cryptocurrency industry companies Coinbase and Circle. USD Coin (USDC) is a stablecoin that’s designed to maintain a value as close to $1 as possible. In terms of market cap, USD Coin is currently ranked #2 in the Stablecoins sector and ranked #2 in the Algorand Network sector. The current yearly supply inflation rate is -49.03% meaning -27.37B USDC were created in the last year. USD Coin's current circulating supply is 28.45B USDC out of max supply of 17.82B USDC. The highest USDC price since the last cycle low was $ 1.008000 (cycle high). The lowest price since it's ATH was $ 0.880000 (cycle low). USD Coin reached its highest price on when it was trading at its all-time high of $ 1.480650, while USD Coin's lowest price was recorded on when it was trading at its all-time low of $ 0.880000. The USDC price increased 0.01% in the last 24 hours. USD Coin price today is $ 0.999600 with a 24-hour trading volume of $ 4.37B, market cap of $ 28.44B, and market dominance of 2.40%.
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