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Circle Cuts USDC Circulation by $1.7B in Weekly Activity

In the week ending November 20, Circle saw $6.3B in USDC issued and $8B redeemed, leaving total supply at $73.8B with $74.1B in reserves.

USDC

Summary

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Terms & Concepts
  • USDC (USD Coin): A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a 1:1 value with the dollar through reserves.
  • Circle Reserve Fund: A dedicated fund holding assets such as cash and short-term U.S. Treasuries to back USDC supply and ensure its stability.