USDC whale stock percentage lowest in nearly two years
USDC tokens held by top addresses fall to two-year low as Circle freezes Tornado Cash-related assets .
The percentage of USD Circle (USDC) stablecoins held by major wallet addresses has fallen to its lowest level in nearly two years as the cryptocurrency market slowdown continues.
Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent selloff of the second-largest US dollar-backed stablecoin by market capitalization.
The percentage of USD dollar supply held by the top 1% of addresses just hit a 22-year low of 87.667% month
The previous 22-month low of 87.669% was observed on August 20, 2022
View metric: https://t.co/EU57HUtLdu pic.twitter.com/dG7Qj1bAjF
— glassnode alerts (@glassnodealerts) August 22, 2022As Cointelegraph previously reported, sanctions imposed on cryptocurrency mixer Tornado Cash by the US Treasury Department have had a marked effect on the capitalization of USDC and its biggest competitor, Tether (USDT). ).
While USDT markets grew by nearly $2 billion in the days following the sanctions, USDC's market cap shrank after its issuer Circle decided to freeze something. 75,000 USDC tokens held by addresses linked to Tornado Cash.
Related:
USDC tokens held by top addresses fall to two-year low as Circle freezes Tornado Cash-related assets .
The percentage of USD Circle (USDC) stablecoins held by major wallet addresses has fallen to its lowest level in nearly two years as the cryptocurrency market slowdown continues.
Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent selloff of the second-largest US dollar-backed stablecoin by market capitalization.
The percentage of USD dollar supply held by the top 1% of addresses just hit a 22-year low of 87.667% month
The previous 22-month low of 87.669% was observed on August 20, 2022
View metric: https://t.co/EU57HUtLdu pic.twitter.com/dG7Qj1bAjF
— glassnode alerts (@glassnodealerts) August 22, 2022As Cointelegraph previously reported, sanctions imposed on cryptocurrency mixer Tornado Cash by the US Treasury Department have had a marked effect on the capitalization of USDC and its biggest competitor, Tether (USDT). ).
While USDT markets grew by nearly $2 billion in the days following the sanctions, USDC's market cap shrank after its issuer Circle decided to freeze something. 75,000 USDC tokens held by addresses linked to Tornado Cash.
Related:
What's Your Reaction?
