USD Coin price

USDC is a stablecoin. Each coin is designed to be worth one US dollar, and it's issued by Circle, a US company that holds a matching reserve of cash and short-term US government debt for every USDC in circulation. Reserve reports are published monthly. People buy USDC to hold dollars on a blockchain, to move money between exchanges and wallets quickly, and to step out of other crypto without leaving crypto.

That makes this page different from the others in this section. The price above should read very close to $1.00, all day, every day. If it doesn't, something unusual is happening.

Three things to know about the number. Small drift is normal: USDC trades on exchanges like any coin, and the market price can sit a fraction of a cent above or below $1 as buyers and sellers rebalance. Gaps that size close in seconds. The peg depends on reserves: USDC holds its value because the reserves back it, not because of a protocol rule. When those reserves were briefly in question in March 2023, USDC traded below 90 cents for a weekend before recovering. That was the exception, and it's the one to remember. No max supply: USDC is created when dollars are deposited and destroyed when they're redeemed, so supply tracks demand. The max supply tile above reads "No max" for that reason.

A stablecoin isn't a bank account. It carries issuer risk and blockchain risk that a dollar in a bank doesn't.