Elvis Picardo is a regular contributor to Investopedia and has 25+ years of experience as a portfolio manager with diverse capital markets experience. Nonetheless, barring a few exceptions, USDC price has managed to stay mostly in the vicinity of $1 ever since its launch. According to our USDC live price chart, the coin reached its all-time high of $1.17 on May 8, 2019, while its all-time low stood at $0.89 on May 19, 2021.

You can also watch the 1 usd to usdc, buy other tokens and receive coins through your digital wallet. Finally, send USDC to friends if they need a stablecoin in their portfolio. Through that lens, stablecoins are uniquely equipped to be a means of exchange as they possess the benefits of U.S. dollars, the global reserve currency, and cryptocurrency. Stablecoins first became popular as a storage mechanism during bull and bear markets.

Global USD Coin Prices

If the prices deviate from the underlying USD market prices, funding will be DOGE paid as normal. Funding on dYdX is paid in USDC, and funding rate calculations are independent of USDC-USD prices. Thus, funding payments will be calculated based on the notional size of open positions and proportional to the divergence between the perpetual price and the oracle price. If the price of USDC falls to .5 USD, then the trader is still long 1500 USDC worth of ETH. There is no mechanism by which the price of ETH has to double to keep their USD exposure the same. Their position size in USDC is constant assuming ETH / USD is constant, but their position size in USD can change as USDC / USD changes.

Why is USDC better than USD?

USDC has greater transparency compared to USDT. Furthermore, USDC is comparable to USDT in terms of the blockchain and exchange rate. USDC is preferred for those who value transparency, whereas USDT is preferred for liquidity and investing in a higher volume Crypto.

Though built on the same underlying blockchain technology as more volatile assets like Bitcoin, stablecoins can represent a consistent store of value. Gelt deposits can be withdrawn with interest anytime for free. When a withdrawal is initiated, USD Coin is automatically re-converted back to U.S. dollars before arriving in a user’s bank account. Unlike more speculative cryptocurrencies such as Bitcoin and Ethereum , a stablecoin, as its name would suggest, is valuable because it is a stable unit of exchange.

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Full BioSuzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies for financial brands. Full BioCierra Murry is an expert in banking, credit cards, investing, loans, mortgages, and real estate. If this is not the case, a stablecoin can ‘lose its peg’ to its underlying asset; In other words, 1 token would no longer equal $1. Though stablecoins aren’t suitable for speculation, due to their stability, here are a few of the top reasons why they’re more prevalent than ever. Perhaps the most significant problem facing wider cryptocurrency adoption is volatility.

How some USDC investors got an unexpected discount as turmoil … – Axios

How some USDC investors got an unexpected discount as turmoil ….

Posted: Mon, 13 Mar 2023 19:43:24 GMT [source] issuance is more decentralized than other stablecoins. Specifically, any institution that meets CENTRE’s requirements may issue USDC. Behind the scenes, Gelt High-Yield Savings automatically converts U.S. dollar deposits into USDC, then adds the funds to DeFi protocols wherein they earn 3–8% interest per year. Integrate USDC into your app or dApp today – USDC is a programmable digital dollar that’s open-source, composable, and accessible for anyone to build with.

Contract Address

Money Transmitters are US money service businesses that must comply with federal laws and regulations. Before the issuance of USDC, the equivalent amount of USD is with one of Circle’s accredited partners. Consequently, all USDC tokens are regulated, transparent and verifiable. Besides, Circle is known as the crypto startup backed by Goldman Sachs. As USDC coins are minted and burnt on a continuous basis, there’s no specific total or maximum supply of these tokens.

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As a result, USDC’s market cap also keeps changing from time to time. In cryptocurrency rankings based on market capitalization. Sign up for an account, deposit funds and buy your first tokens. If you want to make cash profits, start with a token like USDC and convert it to USD later. You can also convert your USDC to another token or sell it and use the profits for more investments.

Where can you buy USD Coin?

The most common way of converting USDC to USD is by using a Crypto Exchange or a P2P (person-to-person) exchange platform like LocalBitcoins, etc. It has a circulating supply of 38,438,579,333, a maximum total supply of –, and its fully diluted market cap stands at $38,426,347,000.00. To check USD Coin's price live in the fiat currency of your choice, you can use's converter feature in the top-right corner of this page. However, most of the other stablecoins also have similar clauses. The tokens are processed on business days only, and the process can take up to 24 hours. Keep reading to understand more about USDC, including how it works and the various use cases for the digital currency.

A issued on BitShares blockchain and backed by Euros . A stablecoin issued on BitShares blockchain and backed by USD. A stablecoin issued on BitShares blockchain and backed by Chinese Yuans . Major boost in Aug 2021, when, one of the top crypto exchanges in the world, enabled both USDC deposits and withdrawals on its platform. This was because of’s partnership with the USDC issuer, Circle.

Imagine FX trades of any size that can take seconds to complete – that’s the power of USDC. Use stablecoin digital payments to send and receive funds globally. When a user redeems USDC for $1, the team burns the appropriate amount of USD coin from circulation, and funds from underlying reserves are transferred to the client’s external bank. Adding USD Coin to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more.

DeFi Platform Maker DAO Takes Swift Action to Address $3.1B … – Coinpedia Fintech News

DeFi Platform Maker DAO Takes Swift Action to Address $3.1B ….

Posted: Sat, 11 Mar 2023 14:15:15 GMT [source]

The portfolio of the Circle Reserve Fund, which consists today of short-dated US Treasuries and cash, is custodied at The Bank of New York Mellon and is managed by BlackRock. USDC is fully regulated and, since its release, has successfully maintained its peg. However, there is no guarantee it will stay at the pegged rate in the future.

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