USDC Circulation Drops by $500 Million as Circle Issues $700 Million and Redeems $1.1 Billion

April 29 (Cointime) - According to Circle's official website, the firm issued a total of USD 700 million in USDC and redeemed USD 1.1 billion in USDC between April 20 and April 27, resulting in a net reduction of USD 500 million in circulation.

As of April 27, USDC had a total circulation of $30.5 billion and reserves of $30.7 billion, consisting of $5.2 billion in cash and $25.5 billion in Short-Dated US Treasury.

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USDC Circulation Drops by $500 Million as Circle Issues $700 Million and Redeems $1.1 Billion

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