USDC circulation surges by 300 million! Circle issued 2.4 billion and redeemed 2 billion in a week, with reserves as solid as a rock!

On November 2, news from Circle revealed that in the 7 days ending October 31, Circle issued approximately 2.4 billion USDC and redeemed 2 billion, resulting in a net increase of 300 million. This brought the total circulation of USDC to 34.7 billion, indicating a strong growth in market demand for stablecoins.

Circle's reserves are ample: the total reserve amounts to approximately 34.9 billion USD, of which 4.3 billion is in cash, while the remaining 30.6 billion is managed by the Circle Reserve Fund, providing a solid financial backing. This stable reserve structure undoubtedly instills confidence in the market.

What deeper meaning lies behind the fluctuations in USDC issuance and redemption? When will market funds reach a new peak? Follow BoShi to keep abreast of market dynamics and accurately grasp future trends!

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