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USDC sees net redemption of 1.7 billion in a single week, Circle's $74.1 billion reserve structure revealed

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[Crypto World] USDC’s on-chain activity has been quite interesting over the past week. In the seven days ending November 20, Circle issued approximately 6.3 billion new USDC, but redemptions during the same period reached 8 billion, resulting in a net outflow of 1.7 billion.

Currently, the total circulation of USDC on the market remains stable at around 73.8 billion. In terms of reserves, Circle holds about $74.1 billion—$9.2 billion in cash and another $64.9 billion in the Circle Reserve Fund.

From the data, although there is short-term net redemption pressure, the overall reserve coverage ratio remains healthy and liquidity management is still relatively stable.

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NFTRegretfulvip
· 13h ago
A net redemption of 1.7 billion sounds scary, but with such a healthy reserve coverage... Circle really doesn’t seem too worried.
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SchrodingerProfitvip
· 13h ago
1.7 billion net redemption? So this is what's called "healthy"... Watching the reserves pile up, why do they still have to bleed out?
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OnchainDetectiveBingvip
· 13h ago
Is the redemption pressure so high? It feels like someone is cashing out.
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Gm_Gn_Merchantvip
· 13h ago
So much redemption pressure? Feels like someone is quietly withdrawing. --- 64.9 billion in the fund, I need to keep a close eye on this operation. --- Liquidity is stable? Then why does that 9.2 billion cash feel a bit tight? --- A net outflow of 1.7 billion is not a small number, will it continue? --- The reserve coverage ratio sounds good, but what about the reality? --- Circle can withstand this wave of operations, let’s see what happens next. --- Issuing less coins and more redemptions, is the market bearish on USDC? --- 74.1 billion in reserves sounds good, but the actual liquid amount is just that 9.2 billion cash. --- With such a large net outflow in a week, I need to follow up on the subsequent trends. --- Whether it’s stable or not remains to be seen, this data looks a bit subtle.
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