The blockchain data and research platform, Nansen, tweeted that Circle’s USDC stablecoin recovered to about $0.97 after a token burn process. The stablecoin’s price dropped significantly following the fall of Silicon Valley Bank (SIVB). Hence, the issuing company, Circle, engaged in a series of burns and minting of new tokens to stabilize the crypto. According The post Circle Burns Nearly $650M, Recovers From Unprecedented Crash appeared first on Coin Edition .
