130 Million USDC Burned from Treasury's Address
CryptoNewsTerminal Staff20 Aug, 2024
130 Million USDC Burned from Treasury's Address
According to Whale Alert, a popular blockchain tracking service, a whopping 130 million USDC has been burned from the USDC Treasury's address. This burn marks a significant milestone in the cryptocurrency's history, as it demonstrates the commitment of the USDC team to maintaining the stability and credibility of the token. The burn also serves as a reminder of the important role that stablecoins play in the broader cryptocurrency ecosystem, providing investors with a safe and reliable way to store and transfer value. While the exact reason for the burn remains unknown, it is believed that it was part of a regular process to regulate the USDC supply and maintain its peg to the US dollar.
