On May 14, according to Whale Alert, USDC Treasury destroyed 60 million USDC, approximately 59.99 million USD, on-chain Ethereum block at 16:45 Beijing time.
This move highlights the adjustment of the supply of the cryptocurrency USDC. The burning of the “Token” is part of liquidity management and anti-inflation in the cryptocurrency market.
The information is intended to provide market data and is not investment advice.
Source: https://tintucbitcoin.com/usdc-huy-60-trieu-usdc-on-chain-ethereum/
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