Circle's USDC Circulation Decreases by 800 Million in One Week

According to PANews, official data reveals that Circle issued approximately 1.8 billion USDC and redeemed around 2.6 billion USDC in the seven days leading up to October 10. This resulted in a net decrease of 800 million USDC in circulation. The total circulation of USDC now stands at 34.6 billion, with reserves amounting to approximately 34.8 billion dollars. Of these reserves, about 3.7 billion dollars are held in cash, while the Circle Reserve Fund holds around 31 billion dollars.