In the week ending August 21, Circle issued 5.2 billion USDC and redeemed 5.7 billion USDC, reducing the circulating supply by about 500 million USDC.
The total amount of USDC in circulation is 67 billion units, with corresponding reserves reaching 67.1 billion USD, including about 8.4 billion USD in cash and 58.8 billion USD managed in the Circle Reserve Fund.
MAIN CONTENT
Circle issued 5.2 billion USDC and redeemed 5.7 billion USDC in the week ending August 21.
The USDC supply decreased by about 500 million during this period.
Circle reserves are backed with a total value of 67.1 billion USD, including cash and reserve funds.
How much USDC did Circle issue and redeem in the week ending August 21?
In the seven days ending August 21, Circle issued approximately 5.2 billion USDC while redeeming about 5.7 billion USDC. This means the circulating supply of USDC decreased by about 500 million units.
This adjustment reflects Circle's flexible policy in managing USDC supply to maintain balance in this cryptocurrency in the market and meet the actual demand of users.
How much USDC is in circulation and what are Circle's reserves?
The total amount of USDC currently in circulation is 67 billion, which is 100% backed by Circle's reserves valued at 67.1 billion USD.
Of this, the reserve fund includes 8.4 billion USD in cash and 58.8 billion USD in the Circle Reserve Fund, showing a large and diverse reserve source that helps ensure stability and reliability for USDC in the cryptocurrency ecosystem.
What does having a large reserve mean for USDC?
Large and adequate reserves help USDC maintain price stability, considered one of the key factors ensuring investor and user confidence in this stablecoin.
Maintaining a transparent reserve is the key factor that helps USDC avoid significant volatility and meet stringent legal requirements in the finance and cryptocurrency sectors.
Frequently Asked Questions
Did the circulating supply of USDC decline significantly in August?
In the week ending August 21, USDC's circulating supply decreased by about 500 million, reflecting slight volatility in the total supply.
Does Circle's reserve include cash?
Yes, of Circle's total reserves of 67.1 billion USD, about 8.4 billion USD is cash.
How much capital does the Circle Reserve Fund manage?
The Circle Reserve Fund is currently managed with approximately 58.8 billion USD to ensure circulating USDC.
How is the USDC supply maintained?
Circle continuously issues and redeems USDC to adjust the supply according to market demand.
Is USDC really safe?
Transparent reserves with corresponding values help increase the safety of USDC.
Source: https://tintucbitcoin.com/usdc-luu-hanh-giam-500-trieu-usd/
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