$USDC

The USDC (USD Coin) is currently the second-largest stablecoin by market capitalization, aiming to maintain a 1:1 peg with the US dollar. As of May 16, 2025, its price hovers around $0.9999, demonstrating high stability with minor fluctuations. With a market cap of approximately $60.6 billion and a 24-hour trading volume of around $12 billion, USDC showcases significant liquidity and adoption within the cryptocurrency ecosystem.

USDC operates on multiple blockchain networks, including Ethereum, Solana, and others, facilitating its use in various decentralized finance (DeFi) applications, trading, and payments. It is issued by Circle, a regulated financial technology company that emphasizes transparency through monthly attestations of its reserves, which consist primarily of cash and short-term US Treasury bills held in regulated US financial institutions.

While generally stable, USDC briefly experienced a slight deviation from its peg in March 2023 due to the Silicon Valley Bank collapse but quickly recovered. Its growth in circulating supply throughout 2024 and early 2025 indicates increasing adoption and trust in the stablecoin.