USD Coin Price Today in US Dollars – Price of USDC Live Chart

About USD Coin

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What is USDC?

USD Coin (USDC) is a creation of joint venture between the popular crypto exchange Coinbase and fintech company Circle. The Centre consortium founded by Circle manages the coin. This consortium includes Coinbase and Bitmain, which is a Bitcoin mining company and investor in Circle.

Circle announced the USD coin for the first time on May 15th, 2018, and it was launched in September 2018. USDC is a centralized fiat-collateralized stablecoin. What this means is that it is pegged to the United States dollar.

Holders can use one unit of a USDC at any time to redeem $1. In other words, every USDC price is $1.00 and is redeemable on a 1:1 basis for the dollar. Although USDC started as an ERC20 token, it has grown beyond Ethereum to include several other blockchains.

It currently runs on blockchains like Stellar, Ethereum, Solana, Hedera Hashgraph system, and Algorand. Circle, the consortium that manages USDC, claims that every USDC is backed by approved investments and has dollars in reserve. 

What Drives the Price Of USD Coin?

The USD Coin is unlike other cryptocurrencies. Its price cannot be influenced by factors that affect the cryptocurrency market. As a stablecoin, it reflects the US Dollar, so it will not show any price change when you consider its price valuation.

This means that the USD Coin price will remain $1 for a very long time. The peculiar thing about the price of USDC and why it attracts lots of users is that it consolidates the advantages of cryptos with the stability that fiat money brings.

It does this by allowing users to transfer money around the globe as fast as they can. What’s more, users will have $1 be equal to 1 USDC in a volatile cryptocurrency market.

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