Circle's USDC Circulation Increases By $1.1 Billion In A Week

According to PANews, official data reveals that Circle issued approximately $3.3 billion USDC and redeemed around $2.2 billion USDC over the seven days leading up to January 16. This activity resulted in a net increase of about $1.1 billion in USDC circulation. The total circulation of USDC now stands at 46.4 billion tokens, with reserves amounting to approximately $46.5 billion. Of these reserves, around $5.8 billion is held in cash, while the Circle Reserve Fund holds approximately $40.8 billion.