#USDCCirculationFallsAbout800MInSevenDays
๐ต USDC Supply Shrinks $800M in a Week
๐ Oct 22-29: Circle's transparency dashboard shows net redemptions
๐ Redeemed about $11.7B vs $10.9B issued
๐ USDC in circulation now about $70B
๐ฆ Reserves total about $71.4B, above circulation
๐งพ Mix: $32.9B overnight Treasury repo, $27.5B short-term T-bills, $10.4B at systemically important banks, $0.6B other deposits
โ ๏ธ The drop came as the Fear & Greed Index sat near extreme fear
What it means for crypto: stablecoin supply is dry powder for the market, so net burns usually mean less fresh cash waiting on the sidelines. One week is noise, though, and a return to net minting would be the signal to watch.
Is cash leaving crypto, or just rotating? ๐
$USDC $BTC
#CryptoNews #Stablecoins #Circle #USDCCirculationFallsAbout800MInSevenDays
๐ต USDC Supply Shrinks $800M in a Week
๐ Oct 22-29: Circle's transparency dashboard shows net redemptions
๐ Redeemed about $11.7B vs $10.9B issued
๐ USDC in circulation now about $70B
๐ฆ Reserves total about $71.4B, above circulation
๐งพ Mix: $32.9B overnight Treasury repo, $27.5B short-term T-bills, $10.4B at systemically important banks, $0.6B other deposits
โ ๏ธ The drop came as the Fear & Greed Index sat near extreme fear
What it means for crypto: stablecoin supply is dry powder for the market, so net burns usually mean less fresh cash waiting on the sidelines. One week is noise, though, and a return to net minting would be the signal to watch.
Is cash leaving crypto, or just rotating? ๐
$USDC $BTC
#CryptoNews #Stablecoins #Circle #USDCCirculationFallsAbout800MInSevenDays
