COINOTAG reported on January 3rd that, according to monitoring by Whale Alert, the USDC Treasury executed a significant minting operation at 22:32:11 Beijing time. During this operation, an additional 51,677,295 USDC was minted on the Ethereum blockchain, occurring just three hours after the previous minting event. Earlier in the day, at 19:12:35 Beijing time, the USDC Treasury had also minted 55,231,133 USDC. These operations highlight the Treasury’s ongoing efforts to manage the stablecoin supply, a critical aspect in maintaining the liquidity and stability of USDC within the crypto ecosystem. The continuous minting activities of USDC reflect the increasing demand for secure and reliable digital assets in today’s financial landscape, as more investors seek refuge in stablecoins amidst market volatility.
Source: https://en.coinotag.com/breakingnews/usdc-treasury-mints-over-106-million-usdc-on-ethereum-in-one-day-whale-alert-reports/