Circle issued approximately 5.4 billion USDC during the past week, as part of its ongoing supply management, while redeeming about 5.3 billion USDC in the same period. This activity resulted in a net increase of roughly 100 million tokens in circulation, according to data from ChainCatcher.

As of August 13, the total circulating supply of USDC stood at approximately 71.9 billion tokens. The stablecoin's reserves were reported to be around $72.6 billion, providing a strong backing for the issued tokens. The reserve breakdown includes about $47.7 billion held in overnight reverse repurchase agreements, with an additional $13.5 billion held in other assets.

The issuance and redemption activity reflects Circle’s efforts to maintain the stability and liquidity of USDC, adjusting supply based on market demand and redemption requests. The consistent backing by substantial reserves helps reinforce confidence in USDC as a leading stablecoin in the ecosystem.

More details are available in the official Binance Square post. #USDC #Stablecoin #Reserves