USDC Supply Increases by $2 Billion in Last 7 Days

Over the past 7 days, Circle has seen a lot of minting activity. Specifically, about $8.2 billion USDC was issued, while redemptions totaled $6.2 billion.

🔸 As a result, the net circulating supply of USDC increased by $2 billion in just one week. The total circulating supply has now hit the $78 billion mark.

🔸 Regarding reserves, Circle reports holding approximately $78.1 billion in backed assets, including $46 billion in overnight reverse repurchase agreements, $21.6 billion in shortterm Treasury bills, and over $10 billion in cash at banks.

Rising stablecoin supply is often viewed as fuel for the market. With this fresh $2 billion in liquidity, are we about to witness aggressive deployment into risk assets?

News is for reference, not investment advice. Please read carefully before making a decision.