Whale Alert, a blockchain analytics company, reported a massive burn of 130 million USDC from a USDC treasury address. This significant burn indicates a substantial reduction in the circulating supply of USDC, potentially contributing to its recent price surge. The burning of USDC tokens reduces the overall supply and increases their scarcity, making them more valuable. It is often done to stabilize the value of the stablecoin and maintain its peg to the US dollar. As the supply decreases, the demand for the remaining USDC tokens increases, potentially leading to an increase in price. This burn is a bullish signal for USDC and may indicate confidence in its long-term prospects. Investors often perceive a reduction in supply as a positive factor, as it can increase the value of their holdings.

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