Circle’s USDC continues to see redemptions en masse as the stablecoin's market cap fell to about $32.5 billion, a decline of roughly $10 billion over the last two weeks.

Net redemptions in the past 24 hours reached close to $463 billion, with $487 billion burned and just $24.1 million minted. USDC's market cap has gone from around $33.3 billion to $32.8 billion over the same period, according to data from The Block.