Circle's USDC Circulation Increases by $1.2 Billion

According to PANews, official data reveals that Circle issued approximately $3.4 billion USDC and redeemed around $2.3 billion USDC in the seven days leading up to January 30. This activity resulted in a net increase of about 1.2 billion USDC in circulation. The total USDC circulation now stands at 53 billion, with reserves amounting to approximately $53.2 billion. Of these reserves, about $6.3 billion is held in cash, while the Circle Reserve Fund holds approximately $46.9 billion.