Circle burned 50 million USDC on Ethereum.
Personally, when I look at stablecoin data, I generally think a single burn has limited significance; what matters is the net direction over a period of time. Ongoing burns combined with a decline in stablecoin balances on exchanges suggest that liquidity is being withdrawn.
$BTC Current price: 82902. Which signal would you trust?
Just my personal opinion—don’t take it too seriously.
Personally, when I look at stablecoin data, I generally think a single burn has limited significance; what matters is the net direction over a period of time. Ongoing burns combined with a decline in stablecoin balances on exchanges suggest that liquidity is being withdrawn.
$BTC Current price: 82902. Which signal would you trust?
Just my personal opinion—don’t take it too seriously.