WhaleAlert Reports Major USDC Minting: Over 292 Million USDC Created on Ethereum

On November 28th, COINOTAG reported a significant movement in the stablecoin market. According to WhaleAlert, there were three notable transactions involving the minting of USD Coin (USDC) on the Ethereum blockchain occurring at 01:57, 06:11, and 06:59 (UTC+8). The USDC Treasury issued a total of 292,887,996 USDC, comprising increments of 50 million, 142,887,996, and 100 million USDC. This event underscores the active role of central entities in the issuance of stablecoins, crucial for maintaining market liquidity. The implications of these minting actions may influence market dynamics and the demand for USDC, especially given its role in decentralized finance (DeFi) and trading across exchanges. Investors and market participants should stay vigilant regarding the impact of such maneuvers on the broader crypto ecosystem.