$USDC Today is April 2, 2025, let's talk about the latest developments of USDC (USD Coin). USDC is a stablecoin pegged to the US dollar at a 1:1 ratio, issued by Circle, and widely used in cryptocurrency trading and cross-border payments. As of today, according to the latest information and market observations online, the dynamics of USDC are worth paying attention to.

First, from the perspective of circulation, there are reports that USDC Treasury has burned 60 million USDC today (specifically at UTC+8 11:12, which is 11:12 AM Beijing time) on the Ethereum network. This may be Circle adjusting the market supply to maintain its peg to the US dollar's stability. Such burning actions usually reflect liquidity management or a response to market demand. Combining recent data, since the end of March, the supply of USDC seems to have ended its previous upward trend and has begun to decline, which may relate to the short-term liquidity conditions in the market.

Secondly, today global financial markets are under significant attention due to the "Liberation Day" tariff policy announced by Trump. Although USDC itself is not directly related to tariffs, as a stablecoin pegged to the US dollar, its use cases may be affected by economic fluctuations caused by the trade war. For example, if tariffs lead to increased cross-border payment demand, USDC's trading volume may rise. On the other hand, market uncertainty may also increase the safe-haven demand for stablecoins.

From a broader context, Circle recently submitted an IPO application, intending to list on the New York Stock Exchange (stock code "CRCL"), indicating that the issuer of USDC is seeking greater capital support and market recognition. Currently, the circulation of USDC is about $60 billion, accounting for approximately 26% of the stablecoin market, second only to Tether's USDT (67%). If the IPO is successful, it may further enhance the credibility and usage of USDC.

Do you have any specific thoughts to discuss about USDC's performance today or its future trends? For example, its technical aspects, market sentiment, or competition with other stablecoins?