USDC Circulation Sees Slight Decline Amid Recent Issuance and Redemption

According to PANews, official data reveals that Circle issued approximately 3 billion USDC and redeemed around 3.2 billion USDC in the seven days leading up to May 29. This activity resulted in a net decrease of about 200 million USDC in circulation. The total circulation of USDC stands at 61 billion, with reserves amounting to approximately 61.3 billion USD. Of these reserves, around 8 billion USD is held in cash, while the Circle Reserve Fund holds approximately 53.3 billion USD.