1.6 Billion USDC Have Been Converted into Cryptocurrencies: Report

According to the experts of Lookonchain, the growth of Bitcoin and Ethereum to a certain extent was made possible thanks to the conversion of 1.6 billion USDC into cryptocurrencies since February 10.

The experts of the company have been unable to determine the ownership of wallets associated with stablecoins.

$1.6 billion was withdrawn to individual tagged addresses from accounts with the co-issuer Circle and $0.2 billion in escrow.

The “mysterious” fund did not stop injecting funds even after the correction of the cryptocurrency market, the experts of the company have said. Since February 10, the equivalent of $155 million has gone from his associated Circle address to trading platforms.