USDC Circulation Surges: Over 1 Billion Added Last Week

Circle has experienced a significant boost in USDC circulation, with over 1.2 billion additional tokens added to its circulating supply last week. Official data, as reported by PANews, shows that Circle issued approximately 3.7 billion USDC while redeeming around 2.5 billion USDC during the week ending April 24th. This resulted in a net increase of USDC circulation to reach a total of 62 billion tokens. The total reserves for Circle are estimated at $62.3 billion, with $7.9 billion held as cash and approximately $54.4 billion managed by the Circle Reserve Fund.