Bridged USDC (Sonic)

USDC.e

USDC.e is a wrapped version of USDC bridged through the Sonic Gateway.

Risk Rating

Average

$1.00

0.01%

What is Bridged USDC (Sonic)?

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Information

Blockchain

Sonic

Info

Community
Reddit
Asset Type: ERC-20

Key Metrics

Market Cap: $549.1M
Fully Diluted Valluation: $549.1M
FDV / MC: 1
Ranking inside Exponential (excluding stables): #23
Circulating Supply: 549,161,379
Total Supply: 549,161,379
Volume (24H): $39.3M
ATH: $1.05 (01/19/2025)
ATL: $0.95 (01/19/2025)

Risk Assessment

Average

Asset Strength

USDC.e is a large-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of Sonic Gateway, a protocol rated as Watch out.

USDC.e is a stablecoin that usually trades within 20bps of its peg to USD, which makes it a solid store of value.

Dependencies

Sonic Gateway

Asset Tokenomics

USDC.e does not have a supply schedule. USDC on Sonic is backed 1:1 by USDC locked in the Sonic Gateway bridge on the Ethereum chain. USDC is backed 1:1 by USD reserves held with a licensed custodian (Circle). USDC is fully redeemable for its USD reserves, providing an effective mechanism to retain the peg to $1.

Things to know about USDC.e