edgeX Treasury will transfer 50 million USDC to market makers, which will be used for TGE market making or buybacks.

03-28

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According to ChainCatcher, Ember's monitoring shows that edgeX's treasury has decreased by 50 million stablecoins in the past day, from $190 million to $140 million.

Through on-chain investigation, Yu Jin discovered that two wallets, including market maker Amber Group, transferred the corresponding 50 million USDC across-chain to edgeX. The receiving address, 0xc8B...783, currently holds approximately 75 million USDC on edgeX. Yu Jin speculates that this portion of USDC may be used for TGE market making or token buybacks.

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Stablecoin

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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