Data: USDC circulating supply decreased by approximately 1.4 billions in the past 7 days

PANews, January 24 — According to official data, in the 7 days ending January 21, Circle issued approximately 4.8 billion USDC and redeemed about 6.2 billion USDC, resulting in a decrease of around 1.4 billion in circulation. The total USDC in circulation is 74.4 billion, with reserves of about 74.5 billion US dollars. Of these reserves, overnight reverse repo agreements in US Treasuries account for approximately 47.8 billion US dollars; US Treasuries with maturities of less than 3 months account for about 16 billion US dollars; deposits at systemically important institutions are around 9.9 billion US dollars; and other bank deposits are about 800 million US dollars.