Data: The balance of USDC on the Ethereum chain of the Coin Security platform is about US $5 billion
According to reports, Nansen, a blockchain analysis company, tweeted that Circle had destroyed USDC worth 2.34 billion dollars in the past 24 hours, of which 70% (about 1.65 billion dollars) had been destroyed in the past 8 hours. In addition, according to the address of the centralized exchange marked by Nansen, the current amount of USDC on the Ethereum chain is about $5 billion, that of Crypto.com is about $766 million, and that of Coinbase is about $303 million. In addition, Uniswap is about $653 million, Voyager is about $529 million, Curve is about $515 million, and dYdX is about $368 million.
Interpretation of this information:
The blockchain analysis company Nansen reported that Circle, the issuer of the USDC stablecoin, destroyed $2.34 billion worth of USDC in the past 24 hours, with 70% of that amount being destroyed in the past 8 hours. This means that the circulation of USDC has decreased significantly in a short amount of time. Additionally, Nansen revealed the current amounts of USDC held by various exchanges on the Ethereum blockchain, with Crypto.com and Coinbase holding the most, followed by Uniswap, Voyager, Curve, and dYdX.
This news suggests that Circle is taking measures to reduce the supply of USDC in circulation, possibly in response to the recent market volatility and regulatory scrutiny of stablecoins. This move may help stabilize the value of USDC and improve its reputation as a reliable and trustworthy stablecoin.
The three keywords to summarize this message are: USDC, circulation, and exchanges.
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