On May 14, according to monitoring data from Whale Alert, at 17:28 Beijing time, USDC Treasury burned 50 million USDC, equivalent to about 50.015 million USD, on-chain Ethereum.
This move is an important part of managing the supply of cryptocurrency, helping to stabilize the value and control inflation of USDC. The USDC cryptocurrency, known as a stablecoin, usually maintains a stable value thanks to its 1:1 ratio with USD. Token burning is often carried out to adjust liquidity in the market, ensuring that there is no excess supply putting downward pressure on prices.
This information is intended to provide market data and is not investment advice.
Source: https://tintucbitcoin.com/usdc-huy-50-trieu-usd-on-chain-ethereum/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
