USDC sees $1 billion in net redemptions since Silicon Valley Bank was shut down

According to TechFlow, Nansen data shows that since Silicon Valley Bank was closed, USDC has seen a net redemption of $1 billion. Nansen said that Circle redeemed about $1.6 billion of USDC on Friday local time in the United States, and the minting volume was far less than the redemption volume.

According to data from Circle's official website, as of March 9, local time in the United States, the circulation of USDC was approximately 43.4 billion, while according to data from CoinMarketCap, the current circulation of USDC is approximately 42.3 billion.