$USDC

USDC, or USD Coin, is a type of cryptocurrency known as a stablecoin. Its value is pegged to the US dollar, meaning 1 USDC is equivalent to 1 USD. This stability makes it an attractive option for those looking to mitigate the volatility often associated with cryptocurrencies.

*Key Features:*

- *Backed by US Dollar Reserves*: USDC is fully backed by US dollar-denominated assets held in reserve, ensuring its stability and reliability.

- *Regulated*: USDC is issued by Circle, a regulated financial technology company that adheres to strict US laws and standards.

- *Transparent*: The reserves backing USDC are publicly disclosed on a monthly basis, providing transparency and accountability.

- *Multi-Blockchain Support*: USDC operates on various blockchain networks, including Ethereum, Solana, and Algorand, allowing for fast and cheap transactions.¹ ²

*Use Cases:*

- *Fast and Low-Cost Transactions*: USDC enables near-instant transactions with minimal fees, making it suitable for global payments and settlements.

- *Stable Store of Value*: USDC's peg to the US dollar provides a stable store of value, reducing the risk of price volatility.

- *DeFi and Trading*: USDC is widely used in decentralized finance (DeFi) applications and trading platforms due to its stability and liquidity.³

*Current Status:*

- *Market Cap*: USDC's market capitalization is approximately $61.5 billion.

- *Circulating Supply*: There are around 61.56 billion USDC tokens in circulation.

- *24-Hour Trading Volume*: USDC's 24-hour trading volume is around $11.14 billion.