Circle USDC Circulation Rises Over 400 Million Tokens

Circle has seen a surge in its USD Coin (USDC) circulation, with data from PANews showing that the company issued approximately 7.6 billion USDC and redeemed around 7.2 billion USDC during the week ending October 16th, resulting in a net increase of 400 million USDC. The total circulating supply of USDC now stands at 75.9 billion tokens. Circle’s reserves are substantial, totaling approximately $76.1 billion with $9.9 billion in cash and $66.2 billion managed by the Circle Reserve Fund.