Add as a preferred source on GoogleUSD Coin Circulation Falls by About 800 Million in Seven Days
Circle redeemed about $10.5 billion in USDC against $9.7 billion issued through Oct. 8. Reserves totaled about $73.2 billion.
USD Coin (USDC) circulation fell by about 800 million in the seven days through Oct. 8 as redemptions outpaced issuance and reserves stood at about $73.2 billion.
Circle issued about $9.7 billion in USDC during the period and redeemed about $10.5 billion. Total circulation stood at about 73 billion USDC.
The reserve breakdown included about $36.3 billion in overnight reverse Treasury repos and $26.9 billion in Treasury securities maturing in less than three months. Deposits at systemically important institutions accounted for about $9.3 billion, while other bank deposits totaled about $700 million.
The latest figures follow a previous period in which USDC circulation rose by about 300 million USDC over seven days.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.