Urgent: 50 Million USDC Just Minted, Whales on High Alert
CryptoNewsTerminal Staff13 Sep, 2024
Urgent: 50 Million USDC Just Minted, Whales on High Alert
According to Whale Alert, at 11:18 PM KST on the 13th, whales detected a colossal issuance of 50 million USDC from the Ethereum treasury wallet of the popular stablecoin. This significant influx of USDC into circulation has sent ripples through the cryptocurrency market, prompting speculation and scrutiny from investors. As one of the most widely used stablecoins, USDC is pegged to the US dollar, maintaining a 1:1 exchange rate. Its stability and reliability have made it a favorite among traders, investors, and institutions. The sudden issuance of such a large amount of USDC has raised questions about the reasons behind this move and its potential impact on the overall cryptocurrency market. Stay tuned for further updates as this story develops, and remember to exercise due diligence and research before making any financial decisions. ```
