USDC circulation increased by about 600 million tokens in the seven days ended September 3. Circle issued approximately 11 billion USDC and redeemed about 10.4 billion USDC during the period.
Total USDC circulation stood at 74.6 billion tokens, backed by roughly $74.5 billion in reserves. The reserves included about $49.6 billion in overnight reverse Treasury repurchase agreements, $14.5 billion in Treasury securities with maturities under three months, $9.6 billion in systemically important institution deposits, and $800 million in other bank deposits.
USDC Circulation Rises by 600 Million Over Seven Days
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