A dormant Circle-tagged wallet routs $29.99M USDC through a chain of fresh, unlabelled wallets

A known Circle-associated wallet, silent for 49 days, moved $29.99M USDC into a cascade of previously empty wallets - no exchange labels on either side.

The sending wallet 0x55fe was first seen 59 days ago, then sat inactive for 49 days before the single $29.99M outflow. The funds split across multiple fresh wallets at once, while broader USDC flows show $627.76M moving onto exchanges over the last 24 hours.

This off-exchange dispersal pattern contrasts with wider stablecoin inflows to trading venues.

Next event: Whether the receiving wallet routes USDC to an exchange, bridge, or mixer, or keeps it in self-custody.