Circle's USDC Circulation Decreases by 300 Million in a Week

According to PANews, official data reveals that Circle issued approximately 1.7 billion USDC and redeemed around 2 billion USDC in the seven days leading up to October 24. This resulted in a net decrease of 300 million USDC in circulation. The total circulation of USDC now stands at 34.4 billion, with reserves amounting to approximately $34.6 billion. Of these reserves, about $4.1 billion is held in cash, while the Circle Reserve Fund holds approximately $30.5 billion.