Circle's USDC Circulation Sees Decline Over Seven Days

According to PANews, official data reveals that Circle issued approximately 5.4 billion USDC and redeemed around 5.7 billion USDC in the seven days leading up to January 8. This resulted in a decrease of about 300 million USDC in circulation. The total circulation of USDC stands at 74.9 billion, with reserves estimated at 75 billion USD. These reserves include approximately 50.7 billion USD in overnight reverse repurchase agreements, 13.7 billion USD in Treasury bills with maturities of less than three months, 9.9 billion USD in deposits at systemically important institutions, and around 700 million USD in other bank deposits.