cUSDC Price (CUSDC)#52
The market capitalization of a cryptocurrency is its current price multiplied by its circulating supply (the total number of mined coins).Market Cap = Current Price x Circulating Supply.
Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours.
Available supply or circulating supply is the best approximation of coins or tokens in circulation and publicly available.
The total supply of a cryptocurrency is referring to the total amount of coins in circulation or locked minus the removed ones.Total supply = Onchain Supply - Coins Removed from Circulation
cUSDC Price Chart (USD)
cUSDC Price Update
cUSDC price is $0.022552, up 0.22% in the last 24 hours, and the live market cap is $3.0B. It has a circulating supply volume of 132,536,463,827 CUSDCcoins and a max. supply volume of 132,536,463,827 CUSDC alongside $3.0B 24h trading volume.
The addresses and transactions of cUSDC can be explored in https://etherscan.io/token/0x39aa39c021dfbae8fac545936693ac917d5e7563 and https://ethplorer.io/address/0x39aa39c021dfbae8fac545936693ac917d5e7563. cUSDC website is https://compound.finance/.
No part of the content that we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyze and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses; please, therefore, consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.
cUSDC follows the ERC-20 Ethereum standard and is a specific currency deposited into the Compound liquidity pool.
Check the current Compound USD coin (cUSDC) price, market cap, circulating supply, trading volume, historical statistics, etc., along with in-depth information on several of the biggest and fastest-growing cryptocurrencies on CoinStats, one of the best crypto platforms around.
CoinStats is a cryptocurrency research and portfolio tracker app that provides valuable information on cryptocurrency news and investment advice to help investors make better decisions.
Read on to learn everything you need to know about the Compound protocol and the Compound USD coin.
What Is Compound USD Coin
Compound is a decentralized software protocol running on the Ethereum network, enabling developers to create decentralized financial applications. Its native ERC-20 token, COMP, acts as a governance and incentive token, while several cTokens, including cUSDC, denote investment ownership rights. By depositing tokens to a pool, users earn cTokens, i.e., if you supply USDC, you receive cUSDC. You can use your cTokens to withdraw your assets from the protocol whenever you want; when redeemed, the exchange rate increases, which means the interest is distributed more evenly.
Compound (COMP) can collateralize multiple crypto assets to provide various financial services, such as decentralized and autonomous borrowing and lending. In other words, the Compound protocol allows users to deposit cryptocurrency they own into lending pools designed for other users to borrow from them. Lenders earn interest on their deposits.
The Compound USDC follows the ERC-20 Ethereum standard. They represent a specific currency deposited into the Compound liquidity pool. In other words, cUSDC is a record of your digital dollars USDC deposited to the Compound protocol. Once a user deposits their USDC to the Compound protocol, they are awarded corresponding cUSDC tokens.
Anyone who holds cUSDC earns the prevailing market interest rate. Eventually, each cToken becomes convertible into an increasing amount of USDC, the underlying asset.
COMP has a max supply of 10 million tokens, while the supply of cUSDC changes depending on activities. The protocol issues new tokens when users add funds and destroys cUSDC in the case of withdrawal.
The software company Compound Labs was founded in 2017 by Robert Leshner and Geoffrey Hayes. The protocol officially launched on Ethereum took place in 2018.
Robert Leshner is the current CEO of the company. He's a venture partner at Robot Ventures, a pre-seed investor in fintech and blockchain companies. Leshner's experience also includes management roles in different financial companies. In 2011 he founded Safe Shepherd, a personal information protecting company.
Geoffrey Hayes, an experienced software engineer, is Compound's current CTO.
In 2018, Compound raised $8.2 million in funding from distinguished venture capital firms Andreessen Horowitz and Bain Capital Ventures.
The following year, Compound raised an additional $25 million from the same investors and Paradigm Capital, a VC fund with ties to Coinbase.
A share of the total supply of COMP cryptocurrency was initially distributed to the investors and the team.
How Does cUSDC Work
Compound (COMP) connects lenders with borrowers through smart contracts running directly on the Ethereum blockchain.
Borrowers are users who post cryptocurrency collateral on Compound and are then allowed to borrow other cryptocurrencies supported by Compound at a percentage of the published value.
Lenders are users who deposit their cryptocurrency to the lending pools and earn interest on the cryptocurrency they deposit.
The Compound protocol rewards lenders with its ERC-20 COMP tokens. The rewards are based on the number of cTokens held in their wallet and a varying interest rate depending on the available supply of that asset. The more liquidity a particular token has, the lower the interest rate generated.
Users who lend assets to the protocol can also take out a loan in any other cryptocurrency supported by the Compound protocol. So, borrowers get liquidated if the asset they borrow increases in value and becomes more valuable than the deposited collateral.
How to Buy cUSDC
To purchase cUSDC, users need to buy Ether or Bitcoin first. It's possible to do that via various exchanges like Binance, Coinbase, Huobi, Uniswap, etc.
Follow these easy steps to buy cUSDC:
Step 1: Register on Fiat-to-Crypto Exchange.
Step 2: Buy ETH with fiat money. Once you finish the KYC process, you will need to add a payment method. You can provide a credit/debit card or use a bank transfer. Depending on the country of your residence, some countries will offer instant cash deposits with low fees. Now you can buy Ethereum.
Step 3: Transfer ETH to an Altcoin Exchange. Since cUSDC is an altcoin, you must transfer your coins to an exchange that offers to trade cUSDC in various market pairs. Deposit ETH to the exchange, and you're all set to purchase cUSDC.
Step 4: Acquire a hardware wallet: If you plan to keep your cUSDC for a considerably long time, you may want to store them in a wallet securely. Hardware wallets like Ledger Nano S and Ledger Nano X are the most popular options in this category.