Circulation of Circle USDC grew by $200 Million in the Last Week
Key Points: Circle issued USD 4.2 billion USDC and redeemed USD 4 trillion USDC. It also increased circulation by USD 200 millions from the 22nd to 29th of December.
The reserve included 10.4 billion dollars of cash and 34.2 million dollars in short-term US government bond bonds.
Official sources from Circle made public a report on January 1 showing that USDC circulation had risen by $200 million in the week prior to the release. This is the company responsible for USDC. It has also increased the coin’s circulation as of the last week of 2022. According to official Circle sources, Circle issued USD 4.2 billion USDC between the 22nd and the 29th of Dezember. They also redeemed USD 4 trillion USDC and increased circulation by USD 200 millions. The total USDC in circulation stood at 44.3 billion dollars and the reserve stood at 44.6 billion dollars as of the 29th of Dezember. The reserve included 10.4 billion dollars of cash and 34.2 million dollars in short-term US bonds. This is achieved by linking its market price to an external asset like the United States Dollar. This is done by linking its market value to an external asset such as the United States dollar. Mastercard, for example, announced in the summer 2017 that it was testing a scheme that would allow cryptocurrency payments between cardholders. The underlying currency is USDC. However, US regulators have been increasing their scrutiny of stablecoins because they could threaten the stability of the financial sector. This is because stablecoins increase the degree to which the regulated financial system and the cryptocurrency markets are interconnected.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comChubbiCoincu News