USDC Circulation Surges by 800 Million in Recent Week

Circle has witnessed a notable increase in USDC circulation, with official data indicating an influx of approximately 800 million USDC over the past week. This surge was driven by both issuance and redemption activity totaling about 4.3 billion USDC issued and 3.5 billion USDC redeemed, leading to a net increase in circulating supply. The total USDC circulation now stands at a substantial 61.3 billion USD. Notably, Circle’s reserves encompass around 8.1 billion USD in cash and approximately 53.5 billion USD held within the Circle Reserve Fund.