Past 7 days USDC circulating supply decreased by approximately 800000000 tokens
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AT A GLANCE
According to reports, over the past 7 days,USDC issuance was lower than redemptions, and circulating supply decreased by approximately 800000000 tokens.
Article
Past 7 days USDC circulating supply decreased by approximately 800000000 tokens
PANews October 31 reported, citing official data, that as of October 29, over the 7 days, Circle issued approximately 10900000000 USDC and redeemed approximately 11700000000 USDC, with circulating supply decreasing by approximately 800000000 tokens.USDC Total circulating supply was 70000000000 tokens, and reserves were approximately 71400000000 USD, including approximately 32900000000 USD in overnight reverse Treasury repurchase agreements; approximately 3 in Treasury securities with maturities of less than 27500000000 USD months; approximately 10400000000 USD in deposits at systemically important institutions; and approximately 600000000 USD。
As of October 29, over the 7 days, Circle issued approximately 10900000000 USDC。
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During the same period, it redeemed approximately 11700000000 USDC, with circulating supply decreasing by approximately 800000000 tokens.
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USDC Total circulating supply was 70000000000 tokens, and reserves were approximately 71400000000 USD。
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Reserves include approximately 32900000000 USD in overnight reverse Treasury repurchase agreements, approximately 27500000000 USD in short-term Treasury securities, approximately 10400000000 USD in deposits at systemically important institutions, and approximately 600000000 USD in other bank deposits.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This indicates that, during the period, redemptions of USDC exceeded new issuances of USDC, resulting in a decrease in the amount of USDC in the market. The material also lists the scale and composition of USDC reserves.
Why it matters to readers
USDC Circulating supply and reserve composition can be used to observe changes in its supply and reserve position.
A decrease in circulating supply means that the amount of USDC available in the market has declined, but based solely on data for these 7 days, it is not possible to determine long-term demand or risk trends.
Risks and unknowns
The material does not provide a link to the official original data, and the relevant data has not been independently verified.
Based solely on a 7-day period, it cannot be confirmed whether the decrease in circulating supply will continue.
The material does not specify the particular reasons for the decrease in circulating supply.
The material does not provide evidence of a depeg or liquidity anomaly related to this change.
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Related concepts
Issuance
In the crypto sector, this refers to generating new cryptocurrencies or tokens and, in accordance with the project's rules, putting them into circulation.
