USDC Circulation Surges by $1 Billion: Weekly Data Shows Increase

Circle recently witnessed a significant increase in USDC circulation, according to data released by PANews. Between April 10th and April 17th, the company issued approximately 3.2 billion USDC tokens and redeemed around 2.2 billion USDC tokens, resulting in a net increase of roughly $1 billion. This brings the total circulating supply of USDC to 60.8 billion USD. This figure is supported by reserves totaling approximately 61 billion USD, including cash holdings of about 7.7 billion USD and funds held within Circle’s Reserve Fund of around 53.3 billion USD.