USDC Circulation Rises by $800 Million in Past Week
Circle's official data shows a significant increase in USDC circulation, with around 4.3 billion USDC issued and 3.5 billion redeemed during the week ending May 22, resulting in a net rise of approximately 800 million USDC. The stablecoin's total circulation now stands at 61.3 billion USDC. Circle backs this with reserves totaling roughly 61.5 billion USD, which include about 8.1 billion USD in cash deposits and approximately 53.5 billion USD managed through the Circle Reserve Fund. This growth highlights ongoing demand for USDC in the crypto and financial ecosystems.
