Circle's USDC Circulation Sees Significant Increase

According to PANews, official data reveals that Circle issued approximately 7.5 billion USDC and redeemed around 5.7 billion USDC in the seven days leading up to July 17. This activity resulted in a net increase of about 1.8 billion USDC in circulation. The total circulation of USDC now stands at 64.5 billion, with reserves amounting to approximately $64.7 billion. Of these reserves, around $10.1 billion is held in cash, while the Circle Reserve Fund holds approximately $54.7 billion.