Circle USDC Circulation Decreases Amid Recent Activity

Circle has reported a decrease in its circulating supply of USDC, according to data from PANews. In the past week (May 8-15), Circle issued approximately 29 billion USDC while redeeming around 37 billion USDC, leading to a net reduction of about 8 billion USDC in circulation. The total circulating supply now stands at 605 billion coins. Circle’s reserves have been reported as being approximately $607 billion, with $73 billion held in cash and $534 billion managed within the Circle Reserve Fund. This recent activity suggests ongoing adjustments to market presence and reserve management for USDC.