March 13, 2023, 12:53PM EDT
• 4 min read

Rapid Insights: Analyzing the USDC Depeg

Quick Take

  • Rapid Insights provide a deeper analysis of the current crypto landscape in a timely fashion.
  • This issue of Rapid Insights covers the de-pegging of Circle USD (USDC), the centralized stablecoin of Circle.
  • USDC has been one of the largest stablecoins by market capitalization, second only to Tether USD (USDT), making it an integral aspect of the crypto ecosystem
  • Following the de-pegging of Terra USD (UST) in 2021, there are concerns that USDC could potentially collapse in a similar fashion 
  • The on-chain evidence, coupled with Circle’s transparency, suggests otherwise, that Circle is likely to honor a substantial percentage of its issued USDC

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