USDC circulation has increased by approximately 400 million units in the past 7 days

According to official data, in the seven days ended May 21, Circle issued approximately 8.1 billion USDC, redeemed approximately 7.7 billion USDC, and its circulation increased by approximately 400 million. The total circulation of the USDC is 76.9 billion pieces, and the reserves are approximately US$77.1 billion, of which approximately US$45.7 billion is reversed overnight; approximately US$18.6 billion is in treasury bonds with a maturity of less than 3 months; approximately US$12.2 billion is in deposits from systemically important institutions; and approximately US$600 million is in other bank deposits.