According to PANews, official data reveals that Circle has experienced a decrease in the circulation of its USDC stablecoin over the past week. Between November 7 and November 14, Circle issued approximately 2.7 billion USDC while redeeming around 2.9 billion USDC, resulting in a net reduction of about 200 million USDC in circulation.
The total circulation of USDC now stands at 36.7 billion coins. In terms of reserves, Circle holds approximately $36.9 billion, with $4.4 billion in cash and $32.4 billion managed within the Circle Reserve Fund. This adjustment in circulation reflects the ongoing dynamics within the stablecoin market, as issuers like Circle manage supply in response to market demand and other economic factors.