USDC Circulation Decreases as Issuance and Redemption Activity Modulates

Recent data from PANews reveals that Circle’s issuance and redemption activity in the past week has led to a slight decrease in USDC circulation. Approximately 3 billion USDC was issued during this period, while around 3.2 billion USDC was redeemed, resulting in a net reduction of approximately 200 million USDC circulating. With a total of 61 billion USDC in circulation and reserves totalling roughly 61.3 billion USD, the majority of these reserves (approximately 8 billion USD) are held as cash, while the Circle Reserve Fund holds about 53.3 billion USD.