In the final week of the year , Tether burned a large volume of stablecoins. Yesterday on the ETH network, Tether burned $3,500,000,000. Normally, Mint & Burn volumes are related to chainswap. But this time there were no chainwap-related transactions like HTX recovery on the TRON and ETH networks. Perhaps Tether Treasury burned a large amount of excess funds because there was no demand to purchase assets in the coming days?
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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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