![]() Net redemptions of USDC crossed the $4 billion mark on Tuesday, as issuer Circle said over the weekend it would process all transactions and honor redemptions. The USDC token burns could have possibly occurred as a result of redemption activity. The recent price action in Chainlink left the tokens market capitalization at. Burns refer to effectively taking tokens out of circulating supply by sending them to an address that’s not controlled by any entity. The Chainlink price is 10.88, a change of -5.36 over the past 24 hours as of 5:53 a.m. This brought the total burnt value of USDC to over $2.2 billion in a little over a single day. Cryptocurrency Prices Live Overview Market Cap 1,275,689,579,409 24h Volume 35,765,058,050 Liquidity 2 4,330,809,207 Trending Bluzelle 0.316887 Ark 0.978538 Smooth Le Potion 0. The current CoinMarketCap ranking is 113, with a live market cap of 276,354,379 USD. PancakeSwap is down 1.82 in the last 24 hours. We update our CAKE to USD price in real-time. With a circulating supply of 230 Million CAKE, PancakeSwap is valued at a market cap of. The live PancakeSwap price today is 1.23 USD with a 24-hour trading volume of 14,396,077 USD. This represents a 1.14 price increase in the last 24 hours and a 12.13 price increase in the past 7 days. ![]() The price of PancakeSwap (CAKE) is 1.24 today with a 24-hour trading volume of 19,705,170.94. The data also shows several other USDC burns took place over multiple separate transactions, ranging from $300 million to $600 million. PancakeSwap (CAKE) price has increased today. ![]() The stablecoin restored its peg after regulators stepped in and ensured depositors would be made whole.Īccording to Arkham Intelligence data, some 723 million USDC were burnt in a single transaction in early Asian hours on Wednesday. The redemptions come days after Circle’s USDC stablecoin depegged from the $1 mark when Silicon Valley Bank (SVB), where $3.3 billion of the stablecoin’s reserves were being held, collapsed. Alphabet Inc. Over $2.2 billion worth of USD Coin (USDC) was burnt since the start of this week as redemptions crossed $4 billion on Tuesday night, causing waves in the cryptocurrency sector. ![]()
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