USDC Treasury Reports an Increase in Cast

02/22/2023 22:30 • Metaverse Matters • 86 views

According to reports, according to Etherscan data, 63746293 USDCs (US $63769892) were cast in USDC Treasury.

USDC Treasury has cast nearly 64 million USDCs

Analysis based on this information:

The message suggests that the USDC Treasury has witnessed a rise in the amount of USDCs cast. According to data collected from Etherscan, the Treasury has recorded over 63 million USDCs cast, which is roughly worth US $63 million. This news highlights the growing popularity of USDC, which is a stablecoin that is pegged to the US dollar.

USDC is an ERC-20 token developed by Circle and Coinbase. It was launched in 2018 to provide a stable alternative to cryptocurrencies that are known for their volatility. The coin is backed by a basket of fiat currencies held in reserve, which makes it a stablecoin. Furthermore, users can redeem USDC for US dollars at any time, which makes it a reliable currency for international payments.

Etherscan is a blockchain explorer that allows users to search and monitor transactions on the Ethereum network. It records all activities related to USDC, such as issuance, redemption, and transfers. The fact that it has recorded an increase in the amount of USDC cast in the Treasury is a sign that the currency is gaining traction among investors and traders.

The USDC Treasury acts as a reserve fund for USDC, which means that it holds the US dollars that back the stablecoin. When users deposit US dollars into the Treasury, they receive an equivalent amount of USDC, which they can then use for various purposes, such as trading, investing or sending money to others.

The rise in the amount of USDC cast in the Treasury indicates that more investors and traders are using USDC as a store of value, as well as a means of payment. This could be due to the growing demand for stablecoins, especially in countries with unstable currencies, where USDC can serve as a hedge against inflation.

In conclusion, the message confirms the growth of the USDC stablecoin, as seen in the increase in the amount of USDCs cast in the Treasury. This is good news for users of USDC, as it reflects the stability and reliability of the currency. With more people adopting USDC, it is likely to become a mainstream means of payment and investment in the near future.

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USDC Treasury Reports an Increase in Cast

USDC Treasury has cast nearly 64 million U…

USDC Treasury has cast nearly 64 million USDCs

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