$USDC

Circle has minted 100 million USD Coin on the Algorand blockchain. This suggests a higher institutional demand for liquidity and aligns with common issuance patterns observed when boosting supply.

The transaction remains unexplained by official sources, including Circle executives, who have not made public comments. This lack of immediate reaction or significant public statement indicates the possible routine nature of the transaction, adhering to stable issuance practices. Circle's statements or public announcements regarding the blockchain of such currency houses are not typically released after every event, unless strategic partnerships or significant market impact is anticipated.

The supply and transaction volume of USDC grew significantly last year (exceeding 20 trillion dollars in annualized transaction volume and a market capitalization of over 45 billion dollars), with issuances spanning 16 blockchains, including Algorand.

Image taken from the network