On Friday, June 20, 2025, the price of USD Coin ($USDC ) weakened slightly to around \$0.9998—slightly below the benchmark of the US currency—indicating dampening pressure on its value stability.

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## 🔻 Why is USDC “red” today?

### 1. **Liquidity fluctuations and high trading volume**

Minor movements below \$1 are usually caused by liquidity fluctuations on exchanges. High trading volume, especially when USDC is used as collateral on derivatives platforms, can create short-term price discrepancies that appear as a small depeg.

### 2. **Massive changes as collateral on Coinbase Derivatives**

Analysts estimate that the proposal to use USDC as collateral in futures trading on Coinbase Derivatives and Nodal Clear has led to shifts in liquidity flows.