USDC Treasury Burns 134.6 Million Tokens as Morpho Deposits Reach $2.8 Billion

The USDC Treasury has burned 134,607,973 USDC tokens, removing more than 134.6 million tokens from circulation. The transaction comes as USDC deposits on Morpho reportedly reach $2.8 billion, putting the stablecoin’s supply changes and DeFi activity in focus. Whale Alert highlighted the burn, which marks a significant reduction in USDC supply. However, the transaction alone does not establish whether demand for the stablecoin is rising or explain why the tokens were burned. The latest burn removes a significant amount of USDC from circulation.