Increase in USDC trading from Circle over seven days
According to PANews, official data reveals that Circle issued approximately 5.8 billion USDC and redeemed about 5.3 billion USDC in the seven days leading up to December 11. This resulted in a net increase of approximately 500 million USDC in trading. The total USDC trading is 78.5 billion, supported by reserves estimated at 78.7 billion dollars. These reserves include approximately 49.7 billion dollars in overnight reverse repurchase agreements with U.S. Treasury securities, 18.5 billion dollars in Treasury bonds maturing in less than three months, 9.6 billion dollars in deposits with systemically important institutions, and about 900 million dollars in other bank deposits.
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