$USDC is a stablecoin, which means it is a type of cryptocurrency designed to maintain a stable value by being pegged to a specific fiat currency, in this case, the US dollar (USD). The goal of USDC is to maintain a 1:1 ratio with the USD, meaning 1 USDC should always be worth approximately 1 US dollar.

Main features of USDC:

* Pegged to the dollar: Its value is designed to be equivalent to the US dollar.

* Fully backed: Every USDC in circulation is supposedly backed by one US dollar or equivalent assets held in reserve by the issuing company, Circle.

* Transparency: Circle publishes monthly reports of its reserves, audited by a major accounting firm.

* Availability: It is available on multiple blockchains, including Ethereum, Solana, Avalanche, and others.

* Use cases: It is used for trading, payments, loans, and borrowing in the decentralized finance (DeFi) ecosystem, as well as for low-cost international transfers.

Price and market capitalization:

As of this response (Thursday, May 8, 2025, 8:56 AM -04), the price of USDC is approximately $1.00 USD.

The market capitalization of USDC is significant, ranking as one of the leading stablecoins in the cryptocurrency market. Currently, it is around $61 billion dollars.

In summary, the currency pair USDC is the USD Coin, a stablecoin whose value is linked to the US dollar and is widely used in the cryptocurrency ecosystem.