USDC Circulation Surges by 500 Million in Recent Week

Circle’s recent activity has boosted the circulation of USDC. According to PANews, they issued around $3.8 billion worth of USDC and redeemed approximately $3.3 billion during the week ending April 3rd. This resulted in a net increase of roughly half a billion dollars in circulating USDC. Currently, the total amount of USDC in circulation stands at $60.8 billion, with reserves totaling around $60.9 billion USD. Notably, approximately $7 billion is held in cash, while Circle’s Reserve Fund holds approximately $53.9 billion USD.