Today there is great news for everyone who loves the smell of freshly printed digital dollars. The USDC treasury, like a real printing shop, just went ahead and printed another 50 million USDC on the Ethereum blockchain. 50,083,900, but who’s counting, right?
Now, imagine this: you enter the crypto market, and someone just dumped a bag of money the size of half the budget of a small town. Why? Why not!
Official version: the market wants liquidity. Demand for USDC is rising. Circle is merely ensuring 'stability'. That very stability when millions of tokens are born from nothing in a day, and no one even blushes.
Unofficial version: someone, somewhere is preparing to buy something VERY expensive. Maybe it will be another DeFi project with 'guaranteed' income. Or maybe they just want to have a fun weekend in the metaverse, buying virtual real estate at the price of three Manhattans.
Interestingly, just a couple of weeks ago these same guys destroyed 50 million USDC. So, first they burned them, and now they've printed them again. It’s like a game of 'hot and cold', only in the world of finance. If the Fed operated as transparently as the blockchain, I think many Americans would have stopped sleeping soundly a long time ago.
And now, attention, the question: when you print 50 million dollars in a stablecoin, where do they go? To help the poor? For infrastructure development? No. They go into DeFi pools, exchanges, into whale wallets. This means that in the coming days we may see a revival in the Ethereum market, an increase in transactions, and possibly a small fee burn party.
This is exactly the case when fresh money comes to the blockchain. And it smells like... victory. Or inflation. Depending on which side of the screen you are sitting.
So, keep an eye on the charts and remember: in the crypto world, it’s simple - today you burn millions, tomorrow you print them again.
May liquidity be with you!
