Past 7 days USDC circulating supply decreased by approximately 500000000 tokens
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AT A GLANCE
Over the past 7 days,USDC redemptions exceeded issuances, and circulating supply decreased by approximately 500000000 tokens.
Article
Past 7 days USDC circulating supply decreased by approximately 500000000 tokens
PANews October 17 reported, citing official data, that as of October 15, during the 7 days, Circle issued approximately 10900000000 USDC, redeemed approximately 11400000000 USDC, and the circulating supply decreased by approximately 500000000 tokens.USDC The total circulating supply was 72500000000 tokens, and reserves were approximately 72700000000 USD, including approximately 35600000000 USD in overnight Treasury reverse repurchase agreements; approximately 3 in Treasury securities with maturities of less than 25800000000 USD months; approximately 10600000000 USD in deposits at systemically important institutions; and approximately 600000000 USD。
As of October 15, during the 7 days, Circle issued approximately 10900000000 tokens USDC and redeemed approximately 11400000000 tokens.
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USDC Circulating supply decreased by approximately 500000000 tokens, with total circulating supply at 72500000000 tokens.
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USDC Reserves were approximately 72700000000 USD。
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Reserves include approximately 35600000000 USD in overnight Treasury reverse repurchase agreements, approximately 25800000000 USD in Treasury securities with maturities of less than 3 months, approximately 10600000000 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.
Issuance means newly created USDC, while redemption means USDC is exchanged back and removed from circulation. During the week, redemptions exceeded issuances by approximately 500000000 tokens, resulting in a decrease in circulating supply.
Why it matters to readers
This shows that during the week,USDC redemptions exceeded issuances, and the reserve composition was also disclosed, facilitating continued monitoring of changes in circulating supply and reserves.
For beginners, the key is to distinguish among issuance, redemption, and circulating supply: when redemptions are greater, the amount of USDC in the market decreases.
Risks and unknowns
The evidence comes from PANews' summary of official data; no original official page was provided.
Based solely on these 7 days of data, it cannot be confirmed whether net redemptions will continue.
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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.
