$USDC

Price and Market Conditions:

Pegged to the US Dollar: USDC continues to maintain its peg to $1. This is its core feature as a stablecoin. You will typically see its price fluctuate around $1.

Market Capitalization: The current market capitalization of USDC is approximately $61.1 billion to $61.5 billion. This makes it the second-largest stablecoin by market cap, only behind Tether (USDT). 24-Hour Trading Volume: USDC's daily trading volume is substantial, ranging from $5 billion to $14 billion, indicating its high liquidity and widespread usage across various exchanges. Circulating Supply: The circulating supply is approximately $61 billion.

Important Developments and News:

1. Circle Successful IPO (CRCL): This is the biggest news for USDC recently.

Initial Public Offering: The issuer of USDC, Circle, successfully listed on the New York Stock Exchange (NYSE) on June 5, 2025, with the stock ticker CRCL. Offering Size: Due to strong investor demand, Circle's IPO size was significantly increased. The company's initial pricing was $31 per share (above the expected range of $27-$28), issuing 34 million shares and raising approximately $1.1 billion. First Day Performance: The CRCL stock price surged significantly on its first day of trading, with some reports indicating it rose by 168% to nearly 250%, closing at around $83.23. This sensational debut is seen as a positive signal for the broader cryptocurrency and fintech IPO market. Valuation: This performance brought Circle's initial market cap to about $6.9 billion, with a fully diluted valuation approaching $8 billion. Some reports even indicated a market cap of around $16.7 billion after the first day's close. Significance: Circle's successful public listing is an important step toward mainstream acceptance and legitimization of the crypto infrastructure industry. It underscores confidence in stablecoin revenues, which are primarily driven by interest earned on reserve assets. 2. Reserves and Transparency: Circle continues to emphasize that USDC is 100% backed by highly liquid cash and cash-equivalent assets, primarily including short-term U.S. Treasury bills and cash held by regulated financial institutions. Circle discloses the status of reserve assets weekly and undergoes monthly audits by one of the Big Four accounting firms, Deloitte, striving for high transparency. As of June 5, 2025, Circle reported having $61.31 billion in reserves.