USDC (USD Coin) is a stablecoin pegged to the US dollar, meaning that each USDC token is supposed to be backed by an equivalent amount of US dollars. Therefore, it is designed to maintain a 1:1 ratio with the US dollar. If USDC is less than a dollar, it could indicate temporary fluctuations in the market or issues with the stability of the stablecoin. It is important to verify the source of the information and the current market conditions to understand why USDC may be trading below its intended value.
