USD Coin
USDCstablecoin$0.9999+0.01% (24h)
Mkt Cap$73.19B
FDV$73.18B
Vol 24h$11.00B
TVLN/A
7d+0.01%
30d+0.02%
ATH$1.04reached Nov 2018
From ATH-4.13%
Market data: 17h ago
Risk score data: 9d ago
AI briefing data: 9d ago
AI Briefing
USD Coin (USDC) is the second-largest stablecoin by market cap at $73.04B, pegged 1:1 to the US dollar. Issued by Circle, it maintains near-perfect price stability and dominates DeFi liquidity. However, significant counterparty and regulatory risks persist: Circle's contracts are upgradeable by the issuer, enabling fund freezes and blacklisting. USDC depegged to $0.88 in March 2023 when Circle's $3.3B SVB deposit became uncertain, exposing reliance on banking relationships. No formal audit is documented. While tokenomics are strong and community trust is high, systemic exposure to issuer decisions and banking infrastructure creates material concentration risk unsuitable for risk-averse investors.
Red Flags
Contracts upgradeable by issuer; Circle can freeze/blacklist addresses unilaterally—core centralization risk.March 2023 depeg to $0.88 when SVB collapsed and Circle's $3.3B deposit froze—banking counterparty exposure.No independent third-party audit documented despite $73B market cap and systemic importance.Regulatory status ambiguous; potential future SEC/FinCEN restrictions on stablecoin issuance could impair utility.
Risk Matrix
| Impact ↓ / Likelihood → | high | medium | low |
|---|---|---|---|
| high | — | 2 risks | — |
| medium | — | — | 1 risk |
| low | — | — | — |
Click a cell to expand risks