$USDC REFERS to USD Coin USDC which is a type of stablecoin that is pegged to the U.S. dollar at a 1:1 ratio. It was launched by the Centre Consortium, which includes Circle and Coinbase, and is widely used in the cryptocurrency space for trading, payments, and as a store of value with reduced volatility compared to other cryptocurrencies like Bitcoin or Ethereum.

Because it’s a stablecoin, each USDC token is backed by reserves of U.S. dollars or equivalent assets held in accounts by regulated financial institutions, ensuring its stability. It is often used in decentralized finance DeFi applications, for remittances, and as a bridge between fiat currencies and cryptocurrencies.$ETH