๐ฅ๐ฅ *60,000,000 USDC Burned by USDC Treasury* ๐ฅ๐ธ
A total of *60M USDC* (โ*$59.98M*) was just *burned* (permanently removed) by the *USDC Treasury* ๐ฆ๐ฅ
๐ก What does this mean?
Burning USDC reduces the *total circulating supply*, signaling that someone redeemed a large amount of USDC for fiat (USD) โ usually a sign of *institutional movement* or *big capital exiting* stablecoins for other assets ๐ผโก๏ธ๐ต
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๐ง Market Implications:
- ๐ข *Bullish for risk assets (like BTC/ETH):* Less stablecoin supply can indicate money is flowing into crypto assets.
- ๐ *Liquidity shift:* Large burns often precede or follow big trades or portfolio rotations.
- ๐ง *Possible whale/institutional actions* behind the scenes.
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๐ฎ Prediction:
If this trend continues with more USDC burns and BTC/ETH inflows rise, we could see *strong price momentum* across majors in the coming days ๐
๐ Stablecoins down = ๐ข Crypto risk-on mode?
Stay alert! ๐ง ๐
