🔥 🔔 USDC Treasury Burns 104 Million Tokens on Ethereum 🔥 🔔 $USDC
The USDC Treasury has burned 104 million USDC tokens on the Ethereum blockchain, a significant transaction reported on May 18, 2025. This destruction of stablecoins, highlighted by blockchain tracker Whale Alert, occurred within a single hour.
Such token burns are a standard mechanism for stablecoin issuers like Circle (the company behind USDC) to manage the token's circulating supply. Typically, this happens when users redeem their USDC for US dollars, and the corresponding tokens are destroyed to ensure the stablecoin remains pegged 1:1 to the US dollar by aligning the supply with underlying reserves.