USD Base Coin

• Base

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• Asset Type: ERC-20

• Market Cap: $35.6B
• Fully Diluted Valluation: $35.6B
• FDV / MC: 1
• Ranking inside Exponential (among stables): #2
• Circulating Supply: 35,605,285,977
• Total Supply: 35,619,831,509
• Volume (24H): $5.8B
• ATH: $1.17 (05/08/2019)
• ATL: $0.88 (03/11/2023)

USDbC 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 Base bridge, a protocol rated as Watch out.

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

Base Bridge

USDbC has an uncapped supply but has inflation control or burn mechanisms in place. USDC on Base is backed 1:1 by USDC locked in the Base 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.