ChainCatcher message, at 23:39 today, the USDC Treasury conducted a remarkable operation on the Ethereum chain, destroying up to 94.32 million USDC. This action has attracted widespread attention in the market, as large-scale token burns usually have potential impacts on the market supply and demand relationship.

Firstly, token burning means that the number of USDC in circulation decreases, which may provide certain support for its price. However, market responses are often complex and variable, and investors need to closely monitor subsequent market dynamics.

Secondly, this burning event also emphasizes the importance of on-chain data monitoring. By tracking large transactions and token changes in real time, investors can better grasp the pulse of the market.