- It was reported that USDC circulation increased by about $1.8 billion in the past 7 days.
- The total USDC in circulation is $64.5 billion, and Circle's total reserves amount to $64.7 billion.
- An increase in stablecoin circulation is interpreted as buying pressure in the market, considered a bullish signal.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The circulation of the US dollar-based stablecoin USDC increased by approximately $1.8 billion (about ₩2,586.3 billion) over the past 7 days.
On the 22nd, the cryptocurrency-focused media outlet Odaily, citing official data from Circle, the issuer of USDC, reported: "Circle issued approximately $7.5 billion worth of USDC and redeemed about $5.7 billion worth of USDC over the past week. As a result, USDC's circulation increased by approximately $1.8 billion."
As of this day, the total USDC in circulation stands at $64.5 billion (about ₩92,655.2 billion). The total reserves held by Circle amount to $64.7 billion, of which about $10.1 billion is in cash and the remaining $54.7 billion is managed through the Circle Reserve Fund.
Typically, an increase in stablecoin issuance and reserves is considered a sign of buying pressure in the market, often interpreted as a bullish signal. Conversely, a decrease can be read as a sign of reduced demand for cryptocurrencies.
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