Digital Currency
Add as a preferred source on GoogleThe transfer involved 159,782,552 tokens, and no reason was reported for the move.
The 159,782,552-USDC transfer to Binance was valued at $159,823,456. The sending wallet had no identified owner, and no reason for the transfer was reported.
USDC is intended to track the U.S. dollar at a 1:1 ratio. Circle is its primary issuer, and Binance is a cryptocurrency exchange. The transfer's purpose was not reported.
EconoTimes previously covered a separate 64.9 million Tether (USDT) transfer from an unidentified wallet to Binance.
Arc uses USDC to pay network fees. USDC made up 98.63% of Arc’s stablecoin market capitalization late Oct. 19.
Shares closed 8.72% lower at $69.48 on Nov. 5. Investing.com and MarketBeat reported Compass Point upgraded Circle to Buy with a $99 target; the quarter included $182 million in ARC token presale revenue as reserve income fell 8%.
Long liquidations totaled $1.53 million across Binance, Bybit and OKX. As of 10:43 UTC, ZEC traded at $1,289.15, up 0.27% over 24 hours.
