What is true about usdc?

The value and stability of USDC, or USD Coin, are determined by several factors:

1. Trustworthiness and transparency of the project: USDC is backed by a reserve of USD held in bank accounts and undergoes regular audits to ensure the 1:1 peg with the US dollar.

2. Demand and usage: The value of USDC is influenced by its adoption and usage in various applications, such as decentralized finance (DeFi) platforms and crypto exchanges.

3. Market conditions and overall crypto market sentiment: Like other cryptocurrencies, the value of USDC can be affected by factors like market volatility, investor sentiment, and macroeconomic conditions.

Last updated 10/22/2023, 11:21:07 PM

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