USDC Treasury Burns 56.67 Million USDC on Ethereum Chain, Signals Major Supply Shift
2025-07-13 06:47:31
Main Idea
The USDC Treasury burned 56.67 million USDC tokens on the Ethereum blockchain, a strategic move to reduce circulating supply and maintain the stablecoin's peg to the US dollar.
Key Points
1. The USDC Treasury burned 56,673,853 USDC tokens on the Ethereum blockchain.
2. This burn is part of a strategy to reduce the circulating supply of USDC.
3. Token burns help maintain the peg stability of USDC against the US dollar.
4. Such actions ensure market confidence and liquidity management.
5. Blockchain explorers and monitoring services like WhaleAlert track these transactions to enhance trust and accountability.
Description
On July 13, WhaleAlert reported a significant transaction involving the USDC Treasury, which executed a burn of 56,673,853 USDC tokens on the Ethereum blockchain. This move reflects a strategic reduction
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