USDC treasury burns 104 million coins on the Ethereum network in just one hour!
AI Summary:
According to Whale Alert reports relayed by BlockBeats, the USDC treasury destroyed 104 million USDC on the Ethereum network in just one hour!
What does this mean?
This operation is not random; it is part of the supply management mechanism of USDC, through which coins are burned to reduce the supply when they are redeemed for US dollars.
Possible reasons behind the burn:
Reducing the supply to maintain balance between supply and demand.
Response to large movements from investors or institutions.
Resetting liquidity on the Ethereum network.
Quick analysis:
Such operations emphasize the transparency and financial discipline followed by stablecoin companies like Circle.
They also serve as a reminder that stablecoins are not just a trading medium, but a financial tool managed with precision that affects market balance.
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