According to PANews, official data reveals that Circle has experienced a decrease in the circulation of its USDC stablecoin over the past week. Between May 8 and May 15, Circle issued approximately 29 billion USDC while redeeming around 37 billion USDC, resulting in a net reduction of about 8 billion USDC in circulation.
The total circulation of USDC now stands at 605 billion coins. Circle's reserves are reported to be approximately $607 billion, with $73 billion held in cash and $534 billion managed within the Circle Reserve Fund. This recent activity reflects ongoing adjustments in the stablecoin's market presence and reserve management.
