$USDC Launched at the end of 2018, USDC is designed to support stable value unlike other typically volatile cryptocurrencies. However, even stablecoins like USDC can still experience minor price fluctuations.

The price of USDC rose to a record high of $1.19 in May 2019 and recorded a record low of $0.891848 in May 2021. Changes in supply and demand are the primary reason why stablecoins deviate from their peg to $1. During sideways market cycles, the demand for stable-value assets like USDC decreases. This leads to the price of USDC and other USD-backed stablecoins falling below one dollar. Overall, however, USD Coin has maintained prolonged periods of stability around the $1 mark.