250 Million USDC Recently Issued by Treasury Address
CryptoNewsTerminal Staff21 May, 2024
250 Million USDC Recently Issued by Treasury Address
Recently, Whale Alert reported the issuance of 250 million USDC from a USDC Treasury address. This development has sparked interest in the cryptocurrency community, as it represents a significant increase in the supply of USDC. The issuance of new USDC is typically done to meet demand from users. As USDC is a stablecoin pegged to the value of the US dollar, it is often used by investors and traders to hedge against volatility in the cryptocurrency market. The latest issuance of USDC is a reminder of the growing popularity of stablecoins. As more people adopt cryptocurrencies, the demand for stablecoins is expected to continue to increase. This is because stablecoins offer a way to store value in a digital format without the price volatility associated with other cryptocurrencies.
