Circle's USDC Circulation Increases by $2.6 Billion

According to PANews, official data reveals that Circle issued approximately 4.6 billion USDC and redeemed around 2 billion USDC in the seven days leading up to February 6. This resulted in a net increase of about 2.6 billion USDC in circulation. The total circulation of USDC now stands at 55.7 billion, with reserves amounting to approximately $55.7 billion. Of these reserves, around $6.8 billion is held in cash, while the Circle Reserve Fund holds approximately $48.9 billion.