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Pulsechain Sacrifice wallet triggers the largest net outflow of USDC on Coinbase

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Pulsechain Sacrifice wallet triggers the largest net outflow of USDC on Coinbase

According to the report, Conor, the business director of Coinbase, tweeted that the largest net outflow of USDCs seen on the chain belonged to the Pulsechain Sacrifice wallet. At the weekend, they exchanged 155 million USDCs for 153.7 million DAIs. They should use MakerDAO’s PSM directly, and Pulsechain finally took on the sliding point of $1.4 million, which they don’t need to do.

Business director of Coinbase: Pulsechain Sacrifice wallet exchanged 155 million USDCs for 153.7 million DAIs

Analysis based on this information:


The recent report reveals that the Pulsechain Sacrifice wallet has generated the largest net outflow of USDCs on the Coinbase chain. Conor, the business director of Coinbase, tweeted about this development, mentioning that over the weekend, the wallet exchanged 155 million USDCs for 153.7 million DAIs.

It is interesting to note that instead of utilizing MakerDAO’s PSM directly, Pulsechain chose to take on the sliding point of $1.4 million on their own. This decision raises several questions as to why they would do that when they could have saved a significant amount by using MakerDAO’s service.

Pulsechain is a new DeFi platform that aims to offer cross-chain functionality and support low transaction fees. The platform is set to launch soon, and it has generated a lot of buzz in the crypto community. Many are waiting to see what kind of impact it will have on the overall DeFi market.

The Coinbase report sheds light on two important aspects of the DeFi ecosystem. First, it shows the power and influence centralized exchanges command over the market. Coinbase is one of the largest and most influential crypto exchanges worldwide, and its report can make or break the fortunes of several DeFi protocols.

Secondly, the report highlights how important MakerDAO’s PSM is for the DeFi community at large. This service is responsible for providing a stable and reliable peg for the DAI stablecoin. Without PSM, the DAI stablecoin would not be able to maintain its value, which could negatively affect the entire DeFi ecosystem.

In conclusion, the Pulsechain Sacrifice wallet’s decision to take on the sliding point of $1.4 million raises questions about the platform’s strategy and vision. It remains to be seen how it will impact the DeFi ecosystem in the long run. Furthermore, the Coinbase report emphasizes the importance of centralized exchanges and the role of MakerDAO’s PSM in maintaining a stable DeFi market. DeFi participants and investors must continue to monitor these developments closely.

Overall, this report is an important reminder of the dynamism and complexity of the DeFi ecosystem, and how crucial it is to have reliable infrastructure that can sustain it.

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