USDC Treasury Mints $589 Million, Burns $336 Million on Ethereum
Whale Alert reports USDC Treasury’s rapid supply adjustments, with a fresh 500 million USDC mint on Solana executed in under five minutes.
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Summary
The USDC Treasury minted 500 million USDC on Solana in two transactions completed within five minutes, according to Whale Alert. This activity follows recent Ethereum operations where the Treasury minted $589 million USDC and burned $336 million, resulting in a net $253 million increase. Earlier on Ethereum, two separate 100 million USDC mints totaled $200 million in new supply. Prior Solana actions included a burn of approximately 104 million USDC. These coordinated multi-chain mints and burns highlight active liquidity and supply management for USDC across Ethereum and Solana.
Terms & Concepts
- USDC Treasury: The entity responsible for issuing and redeeming USD Coin, a stablecoin pegged to the U.S. dollar.
- Minting: The creation of new cryptocurrency tokens and adding them to circulation.
- Burning: The permanent removal of cryptocurrency tokens from circulation, reducing supply.