Over $2.2 billion worth of USD Coin (USDC) was burnt since the start of this week as redemptions crossed $4 billion on Tuesday night. Some 723 million USDC were burnt in a single transaction in early Asian hours on Wednesday, as per The Block, which cited Arkham Intelligence data. Data further shows several other USDC burns took over the place over multiple separate transactions, ranging from $300 million to $600 million. This brought the total burnt value of USDC to over $2.2 billion in a little over a single day. (Coindesk)
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Over Two Billion USDC Stablecoin Burnt in Single Day, Data Shows
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