Back

Circle Reports $500 Million Weekly Decline in USDC Circulation

Circle’s USDC supply grew by $3.5 billion, reaching a total of 70.5 billion tokens, supported by $70.6 billion in reserves including significant cash holdings.

USDC

Summary

Circle issued approximately $8.4 billion in USDC and redeemed $4.9 billion, resulting in a net increase of $3.5 billion in the circulating supply. As of August 28, the total USDC circulation stands at 70.5 billion, backed by $70.6 billion in reserves, including $10.4 billion in cash and $60.2 billion in the Circle Reserve Fund.

Terms & Concepts
  • USDC: A U.S. dollar-backed stablecoin issued by Circle, designed to maintain a 1:1 value with the U.S. dollar through equivalent reserves.
  • Circle Reserve Fund: An investment vehicle holding assets that back USDC, including cash and short-term U.S. Treasuries, managed to ensure liquidity and stability.
  • Stablecoin: A cryptocurrency pegged to the value of a stable asset, such as fiat currency, to reduce volatility.