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Over $2B in USDC Stablecoin Burnt in Single Day, Data Shows
USD coin holders are not rushing back to the token just yet.
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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.
Some 723 million USDC were burnt in a single transaction in early Asian hours on Wednesday, as per The Block, which cited Arkham Intelligence data.
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Data further shows several other USDC burns took place over multiple separate transactions, ranging from $300 million to $600 million. This brought the total burnt value of USDC to over $2.2 billion in a little over a single day.
Burns refer to effectively taking tokens out of circulating supply by sending them to an address that’s not controlled by any entity. The USDC burns followed a likely reduction in reserve backing or redemptions.
Meanwhile, net redemptions of USDC crossed the $4 billion mark on Tuesday. This came as issuer Circle said over the weekend it would process all transactions and honor redemptions.
The dollar-pegged stablecoin has failed to win back investors following last week’s depegging. Circle Internet Financial's USDC stablecoin massively depegged from its intended $1 price on Friday night after Silicon Valley Bank (SVB), where Circle parked over $3.3 billion in treasury assets, was shut by regulators.
CORRECTION (March 15, 2023 15:20 UTC): Fixes the headline to show $2 billion.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
知っておくべきこと:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Cathie Wood’s ARK Invest files for two crypto index ETFs tied to CoinDesk 20
One proposed fund will attempt to exactly mimic the CoinDesk 20, but the other would track the index, excluding bitcoin.
知っておくべきこと:
- ARK Invest has filed with U.S. regulators to launch two cryptocurrency ETFs tracking the CoinDesk 20 index.
- One proposed fund would track the CoinDesk 20, which provides exposure to major tokens, including bitcoin, ether, solana, XRP, and cardano. The other would track the same index, but exclude bitcoin, by pairing long index futures with short bitcoin futures.
- The funds, which would list on NYSE Arca if approved, aim to offer diversified crypto exposure without direct token custody and follow similar, still-unapproved crypto index ETF proposals from WisdomTree and ProShares.
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