In the 7 days ending August 14, Circle issued an additional $8.6 billion USDC and redeemed $5.7 billion USDC, increasing the circulating supply by approximately $2.9 billion USDC.
The total circulating USDC currently stands at $67.5 billion, with reserve value of approximately $67.6 billion, including $10.2 billion in cash and $57.4 billion in the Circle Reserve Fund.
MAIN CONTENT
Circle issued $8.6 billion USDC and redeemed $5.7 billion USDC in 7 days.
The circulating supply of USDC reached $67.5 billion.
USDC reserves consist of $10.2 billion in cash and $57.4 billion in the reserve fund.
How much USDC has Circle issued and redeemed in the week ending August 14?
According to official data, in the week ending August 14, Circle issued approximately $8.6 billion USDC and simultaneously redeemed about $5.7 billion USDC. This resulted in an increase in circulating supply by $2.9 billion USDC.
This activity shows the adjustments reflecting market demand for USDC, helping to maintain stability in the supply of this cryptocurrency in the global market.
What is the current total circulating USDC and financial reserves of Circle?
The total circulating USDC currently amounts to $67.5 billion, reflecting the significant scale of this stablecoin in the global cryptocurrency market.
At the same time, Circle's corresponding financial reserves amount to $67.6 billion, including $10.2 billion in cash and $57.4 billion in the Circle Reserve Fund, ensuring a 1:1 value of USDC to USD in the market.
Maintaining full reserves helps Circle ensure stability and reliability for USDC, a crucial factor attracting investors and users in the cryptocurrency ecosystem.
Financial expert John Smith, 2024
Frequently Asked Questions
What is USDC?
USDC is a stablecoin issued by Circle, with a stable value linked to USD and supported by actual reserves.
How does Circle reserve assets to ensure USDC?
Circle maintains cash reserves and assets in the reserve fund to ensure USDC always equals $1, with the latest figures being $10.2 billion in cash and $57.4 billion in the fund.
What do the increases and decreases in USDC issuance reflect?
The amount of USDC issued and redeemed reflects market demand, while also indicating balance in Circle's stablecoin issuance activities.
Is USDC 100% backed by USD?
Circle is committed to full reserves to ensure USDC is always backed by USD and equivalent assets in the reserve fund.
What does the Circle Reserve Fund consist of?
The fund includes diverse financial assets of significant value, helping to maintain liquidity and transparency for USDC.
Source: https://tintucbitcoin.com/usdc-tang-luu-hanh-29-ty/
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