Circle Burns $150M in USDC on Ethereum Amidst Large-Value Redemptions

Circle has executed a substantial burn of 150 million USDC tokens on the Ethereum blockchain. This action allows businesses to redeem USDC for USD, maintaining the token’s value alignment. The June redemptions have reached an impressive $371 million, indicating heightened activity. Discover how Circle’s significant USDC burns impact the crypto market and what it means

Source: CoinOtag