USDC circulation has dropped significantly by US$900 million, and market trends deserve attention

The latest data:

Issuance: Circle has issued approximately $2.4 billion USDC in the past seven days. Redemption: During the same period, approximately US$3.3 billion USDC was redeemed. Circulation: a net decrease of approximately US$900 million, and the current total USDC circulation is US$32.9 billion. Reserves: Cash reserves: approximately $3.4 billion. Circle Reserve Fund: Holds about $29.6 billion.

Data interpretation:

Reduction in circulation: The significant decrease in USDC circulation reflects the decline in market demand for USDC, which may be due to investors choosing other assets or adjusting market liquidity when risk aversion is high. Reserve situation: Circle's reserve situation remains solid, with cash reserves and Reserve Fund totaling US$33 billion, which is slightly higher than the circulating supply, showing the robustness of its asset and liability structure.

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