Over the past seven days, the circulating supply of USDC increased by about 400 million USDC. In the period ending March 19, Circle issued roughly 5.2 billion USDC and redeemed about 4.8 billion USDC, yielding a net gain of about 400 million USDC. Total circulating USDC stood at about 79.1 billion, with reserves near $7.94 billion. Reserve composition included about $4.53 billion in overnight reverse repurchase agreements, about $2.17 billion in Treasuries maturing within three months, about $1.18 billion in deposits at major institutions, and about $0.60 billion in other bank deposits.
In other seven-day windows, USDC circulation declined by varying amounts, with a decrease of about 34 billion USDC in one period, followed by declines of about 14 billion USDC, 3 billion USDC, 11 billion USDC, and 13 billion USDC in other windows, along with a separate instance of roughly 0.5 billion USDC circulating in another period.
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