USDC Treasury Burns $104 Million on Ethereum: Impact on Market Dynamics

The USDC Treasury recently executed a significant token burn event, destroying 104 million USDC tokens worth approximately $104 million on the Ethereum blockchain. This action aligns with the stablecoin’s standard practice of managing its reserves to maintain a 1:1 peg with the US dollar. This recent burn follows similar actions earlier in May. The move is expected to influence market dynamics and potentially impact USDC availability. 104 million USDC were destroyed on May 19, 2025, as reported by Whale Alert, a monitoring service that tracks such events. ]