USD Coin (USDC) Circulation Falls $3.1 Billion Over 30 Days

USD Coin (USDC) circulation fell by $3.1 billion over the 30-day reporting window as of Oct. 29, as redemptions exceeded new issuance and circulation stood at $70 billion. Circle listed $47.9 billion in USDC issued and $51 billion redeemed during the period, a $3.1 billion difference. It listed total reserves of $71.4 billion on Oct. 29. That was $1.4 billion above circulation, based on the rounded figures. The 30-day total is a separate rolling-period measure and does not show how circulation changed in each individual week. Enna Lee reports on investing and digital-asset markets for TokenPost.