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USD Coin (USDC) Circulation Increases by $1.2 Billion Over the Past 7 Days

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Minseung Kang
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  • It was announced that the circulation of USD Coin (USDC) increased by $1.2 billion over the past 7 days.
  • The increase in the issuance and holding of stablecoins can act as buying pressure in the market, which is considered a bullish signal.
  • The current total circulation of USDC is $53 billion.
STAT AI Notice
  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

The circulation of the dollar-backed stablecoin USD Coin (USDC) has increased by $1.2 billion (approximately 1.7499 trillion KRW) over the past 7 days.

On the 1st, Circle, the issuer of USDC, announced on its official website that it issued approximately $3.4 billion worth of USDC and redeemed about $2.4 billion worth of USDC over the past 7 days. It disclosed that the circulation of USDC increased by about $1.2 billion.

As of this day, the total circulation of USDC is $53 billion (approximately 77.2899 trillion KRW).

Typically, an increase in the issuance and holding of stablecoins can act as a buying pressure in the market, which is considered a bullish signal. Conversely, it can be interpreted as a decrease in demand for virtual assets.

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Minseung KangholderBadgeholderBadge dark

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.