Reported data from DeFiLlama shows: over the past ninety days, a total exchange offer of the stablecoin USDcoin has decreased from $55.5 billion to $46.5 billion. In other words, Circle as an issuer of this asset, burned $9 billion coins.
This was the largest USDC stablecoin liquidation in the last 3 months. And in October 2022, $1 billion, withdrawn from circulation on Tron, also fell into this liquidation. Circle uses this strategy when investors buy back USDC with regular money.
An interesting fact is that at the time of the decrease in the circulation of USDC, the USDT stablecoin continues to grow. Over the past 90 days, the circulating supply has increased by two billion dollars. The leading Tether stablecoin in a global market reached a global extreme of 45.9%.
Members of this team have recently announced plans to make improvements with their ecosystem. Going forward, customers will be able to make money transfers from USCD across multiple blockchains.
The company is going to release a protocol, allowing us to send USDC by using the available networks.
