Circle's USDC Circulation Increases by $2.2 Billion in a Week

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Circle's USDC circulation has surged by $2.2 billion in a week, reflecting increased demand and utilization in the market, as evidenced by the issuance of $3.7 billion and redemption of $1.6 billion USDC.

According to PANews, official data reveals that Circle has issued approximately $3.7 billion worth of USDC and redeemed around $1.6 billion USDC over the past week, ending November 7. This activity has resulted in an increase of about $2.2 billion in USDC circulation.
The total circulation of USDC now stands at approximately 36.8 billion coins. Circle's reserves are reported to be around $37 billion, with cash reserves amounting to approximately $4.9 billion. The Circle Reserve Fund holds about $32.1 billion. This increase in circulation reflects the ongoing demand and utilization of USDC in the market.

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