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