USD Coin ($USDC) is a stablecoin backed by assets in US dollars, designed to maintain a 1:1 parity with the USD. This means that each USDC is backed by one dollar or an equivalent asset in reserves held by regulated financial institutions in the U.S.

📊 Current price and key metrics

Current price: $0.9999 USD

Market capitalization: approximately $60.89 billion USD

Trading volume (24h): around $15.14 billion USD

Circulating supply: 60.90 billion USDC

🧩 What makes USDC unique?

Transparency and backing: Each USDC is backed by cash or cash equivalents, such as short-term U.S. Treasury bonds, with regular reports available to the public.

Blockchain compatibility: USDC is compatible with multiple blockchains, including Ethereum, Solana, Polygon, and more, facilitating its use across various platforms and decentralized applications.

Institutional adoption: Companies like Coinbase and Circle are behind USDC, and its use has expanded to platforms like Apple Pay, enabling payments with USDC through Apple devices.

🏛️ Strategic move by Circle

Circle, the issuing company of USDC, announced its relocation from Boston to New York in preparation for an initial public offering (IPO). This move aims to strengthen the integration of cryptocurrencies with traditional finance and increase confidence in USDC as a regulated stablecoin.

USDC presents itself as a solid option for those seeking stability in the cryptocurrency world, offering transparency, regulated backing, and wide adoption in the digital financial ecosystem.