Circle's USDC Circulation Sees Increase Over Seven Days

According to PANews, official data reveals that Circle issued approximately 5.8 billion USDC and redeemed around 5.3 billion USDC in the seven days leading up to December 11. This resulted in a net increase of about 500 million USDC in circulation. The total circulation of USDC stands at 78.5 billion, backed by reserves estimated at 78.7 billion dollars. These reserves include approximately 49.7 billion dollars in overnight reverse repurchase agreements with U.S. Treasury securities, 18.5 billion dollars in Treasury bills with maturities under three months, 9.6 billion dollars in deposits with systemically important institutions, and around 900 million dollars in other bank deposits.