Usdc
Live USD Coin market cap, peg deviation, mechanism, and per-chain supply distribution on Sharpe Terminal.
Circle launched USDC in 2018 in partnership with Coinbase under the Centre consortium (later dissolved). USDC is fully reserved by US Treasury bills and bank cash, custodied at BlackRock and BNY Mellon. It is the preferred stablecoin for US-regulated DeFi venues, on-chain treasuries, and institutional payment rails.
USD Coin is currently deployed on 126 chains with the largest balance on Ethereum (65.8% of supply). Mechanism: Fiat-backed. Live circulating supply is $77.59B, with a 24h change of -0.17% and 30d change of -0.01%.
USDC briefly depegged to ~$0.87 in March 2023 when $3.3B of Circle's reserves were trapped in the failed Silicon Valley Bank. The peg restored within 72 hours after the FDIC backstop. Post-2023 Circle diversified custody and shifted reserves into a BlackRock-managed treasury fund (USDXX). USDC is materially exposed to US banking and regulatory regime changes.