USDC Treasury Burns Massive 200 Million Tokens

IconCrypto News Terminal22 Apr, 2024

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USDC Treasury Burns Massive 200 Million Tokens

According to Whale Alert, the USDC Treasury has executed a significant burn of 200 million USDC tokens. This burn represents a substantial reduction in the stablecoin's circulating supply. The burn transaction was initiated from the USDC Treasury's designated address and sent to a null address, effectively removing the tokens from circulation. The move is seen as a positive step towards maintaining the stability and value of USDC. Previously on 22 April 2024, Whale Alert reported a similar burn of 200 million USDC from the USDC Treasury's address. These burns indicate the Treasury's commitment to managing the stablecoin's supply and ensuring its long-term viability.

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