CryptoQuant has released a report stating that USDC liquidity has reached its highest level since February 2023. The report suggests that Circle, the issuer of USDC, typically mints more tokens during bearish periods. The increase in liquidity is speculated to be related to a partnership with market maker Cumberland. However, the report's claim that USDC liquidity typically spikes during bearish periods seems contradictory to Circle's recent performance, as it has been challenging Tether's dominance in the EU market. Circle's current financial state is uncertain due to recent layoffs, but this increase in USDC liquidity provides the company with more options for the future.



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