This is why the value of the USDC coin is always around $1 and it can’t reach a higher value, which is why it is not an investment asset.
People use USD coins to protect the value of their crypto portfolio in times of high market volatility.
USDC coin doesn’t have its own blockchain. It is a coin based on the ERC-20 protocol. Smart contracts based on ERC-20 protocol ensure the issuing and redemption of USDC coins.