Circle's recent issuance and redemption of USDC reflects ongoing adjustments in the stablecoin's circulating supply amid market dynamics.
Circle issued approximately $5.4 billion USDC and redeemed about $6.4 billion USDC in the week ending July 31, leading to a decrease of approximately $1.1 billion in the circulating supply. Currently, the total circulating supply of USDC is 63.9 billion, with reserves totaling approximately $64.2 billion, which includes about $8.8 billion in cash and $55.4 billion in the Circle Reserve Fund.