#On-chain Activity Update
On June 14th, $300M USDC was minted on the Algorand Protocol ($ALGO) by an unidentified wallet for unknown reasons; and so far there has been no media coverage on the matter.
The inflow of funds was substantial, raising the USDC value on the chain by 450% and catapulting Algorand into 6th place in rankings of USDC held on chain, trailing only ETH, ARB, SOL, BASE, and AVAX.*
This is the online TX: https://allo.info/tx/V4AQYTHRZ5AQK33OBQU4YNIJ54Y5FJNIEUQ3UMGA33AV4PHKZIZQ *source: https://usdc.cool Show Less
