USDC Supply Grows by $800 Million Over the Past Week
AI Summary:
As reported by PANews, data shows that Circle issued roughly $4.3 billion in USDC while redeeming about $3.5 billion during the week ending May 22. This led to a net increase of approximately $800 million in USDC circulation. The total circulating supply has now reached $61.3 billion, backed by reserves of around $61.5 billion. These reserves consist of approximately $8.1 billion in cash and $53.5 billion held within the Circle Reserve Fund.
