Watchers, a Web3 analytics platform, reported that 314 million USD Coin (USDC) was sent to an empty address in line with its reports. New news continues to come from stablecoin problems, which have made a big mark in recent times. In particular, the deviation of USDC from the stable dollar parity and its depreciation caused panic among crypto investors. According to the popular Web3 analytics platform Watchers, a total of 314.167 million USDC was sent by Circle to the blank Ethereum address titled 0x00 on March 13. Making a transfer to an empty address has generally been a sign that the token has been removed from circulation.
Developments on Stablecoins Continue
With the crisis in stablecoins, many companies have accelerated their work. Circle, known as the USDC issuer, announced that it has partnered with Cross River Bank. Circle, which announced the focus on Monday for the past weekend, further accelerated its activities on this issue.
Circle, who made his speeches after the events, especially targeting today, seems to stand by what he said for now. With many stablecoins deviating from the dollar part, a dark cloud descended on the crypto market. Looking at the current situation, stablecoins that are in the recovery phase are in the focus of crypto investors.
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