$USDC

The dollar and USDC coin pair represents the exchange rate between the United States Dollar (USD) and the USD Coin (USDC). USDC is a stablecoin, a type of cryptocurrency designed to maintain a stable value relative to a specific asset, in this case, the US dollar. Ideally, 1 USDC is equivalent to 1 USD.

USDC aims to provide the stability of the US dollar on blockchain networks, enabling faster and cheaper transactions compared to traditional banking systems. It is issued by regulated financial institutions and is fully backed by reserves of US dollars and dollar-denominated assets held in regulated US financial institutions. These reserves are often audited to ensure the 1:1 peg is maintained.

The dollar and USDC pair is crucial for cryptocurrency trading, decentralized finance (DeFi) applications, and as a stable medium of exchange within the digital asset ecosystem, allowing users to transact and store value in a less volatile manner compared to other cryptocurrencies.