$300M USDC was just minted on Algorand, immediately putting it at #6 for USDC holdings

Earlier today, an unknown wallet minted $300M worth of new USDC on the Algorand chain at this transaction: https://allo.info/tx/V4AQYTHRZ5AQK33OBQU4YNIJ54Y5FJNIEUQ3UMGA33AV4PHKZIZQ

The identity of the entity that minted it, and its purpose is unknown. And, so far, no news or press releases seem to be out about it.

However, the sudden inflow is substantial. This immediately raised the USDC on the chain by around 450% and vaulted Algorand to the #6 spot in terms of USDC held on chain, sitting behind only ETH, ARB, SOL, BASE, and AVAX. (See: https://usdc.cool)