According to official data, from March 17 to March 24, Circle issued a total of USD 500 million in USDC and redeemed USD 2.6 billion in USDC, reducing circulation by approximately USD 2.1 billion.
As of March 17, the total circulation of USDC was 34.6 billion US dollars, and the reserve was 34.6 billion US dollars, including 5.6 billion US dollars in cash and 29 billion US dollars in short-term US treasury bonds.