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USDC Treasury Burns $78.9 Million Worth of Tokens on Ethereum

USDC Treasury’s recent 90 million USDC mint on Ethereum marks a reversal from earlier December burns, reflecting active supply management on the blockchain network.

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USDC

Summary

USDC Treasury minted 90 million USDC on the Ethereum blockchain on December 26, 2024, according to Whale Alert data, following two significant burns earlier in the month totaling over 128 million USDC. The latest mint changes the net supply movement for December, highlighting the issuer’s active adjustments in stablecoin circulation.

Terms & Concepts
  • USDC (USD Coin): A stablecoin pegged to the U.S. dollar, issued by Circle, used for transactions and trading on blockchain networks.
  • Token Burn: The process of permanently removing cryptocurrency tokens from circulation by sending them to an inaccessible wallet address.
  • Ethereum: A blockchain platform known for its smart contract functionality, supporting decentralized applications and various cryptocurrencies.