USDC circulation dropped by $600 million in the past week

According to official data, as of November 2, Circle has issued a total of US$1.2 billion USDC and redeemed US$1.8 billion USDC in the past seven days, reducing the circulation by US$600 million. The total circulation of USDC is US$24.4 billion, with reserves of US$24.5 billion, of which US$1 billion is cash and US$23.5 billion is held by the Circle Reserve Fund.