On August 14, according to Whale Alert's monitoring system, the USDC Treasury issued an additional 100 million USDC on the Ethereum network.
The estimated value of this mint is approximately $99,962,600, accurately recorded on-chain Ethereum through an in-depth monitoring report.
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USDC Treasury created 100 million new USDC on Ethereum on August 14.
The equivalent value of approximately $99,962,600 was accurately minted on the blockchain.
Information confirmed by the Whale Alert monitoring system.
What is the USDC Treasury and its role in the cryptocurrency ecosystem?
USDC Treasury is the issuer of the USDC stablecoin, ensuring the amount of Tokens issued corresponds to cash reserves. This is a key factor in maintaining USDC's stability and trust in the cryptocurrency market.
The control and issuance of Tokens by the Treasury are closely monitored to protect users from price and liquidity risks. This system is highly regarded for maintaining the stability of the global stablecoin market.
What does the minting of 100 million USDC on Ethereum mean?
The issuance of an additional 100 million USDC demonstrates the growing demand for stablecoins in transactions and DeFi-related projects on Ethereum. This is a sign that liquidity and transactions on the network remain very active.
Minting USDC also reflects the expansion of the Ethereum ecosystem as stablecoins increasingly become important tools for payment and value storage in DeFi.
The expansion of USDC issuance aligns with the increasing use of stablecoins in trading and investment activities on the Ethereum Blockchain.
Market analysis director, Blockchain research company, 2024
How to monitor the minting and burning activities of the USDC Treasury?
The minting (creating new) and burning (destroying) of USDC is transparently recorded on-chain Ethereum and can be tracked through on-chain monitoring systems like Whale Alert. This helps investors and users control the flow of stable supply and maintain transparency of circulating Token sources.
The disclosure of these activities also helps to strengthen trust and increase transparency in the stablecoin market, minimizing risks of manipulation or unexpected supply shortages.
Comparing USDC minting with other stablecoins in the market
Criteria USDC Stablecoin A Stablecoin B Dominant Ethereum ecosystem Ethereum & BSC Multi-chain Issuance mechanism Synchronized with cash reserves Backed by asset reserves Algorithmic price stabilization Transparency Public on-chain monitoring Smart contract monitoring Not fully transparent
Frequently asked questions
What is minting USDC?
Minting USDC is the process of creating additional new USDC Tokens, fully supported by the corresponding asset reserves in the Treasury.
Why does USDC issue multiple Tokens on Ethereum?
Ethereum is the primary platform, and the increasing demand for stablecoin transactions and liquidity drives further issuance of USDC.
Are the minting and burning activities of USDC monitored?
Completely transparently monitored through on-chain tools, ensuring trust and control over the circulating supply.
How does minting USDC affect the cryptocurrency market?
Helps increase liquidity, meet transaction demands, and support the development of DeFi applications.
How to directly track USDC minting activities?
Can be tracked through on-chain monitoring platforms like Whale Alert and explorers on Ethereum.
Source: https://tintucbitcoin.com/usdc-treasury-phat-hanh-100-trieu-usdc-2/
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