USDC Supply Don Up 3.7B To 67.5B, Backed By $67.6B Reserves
USDC supply don rise by 800 million token for di first week. Circle mint 4.9 billion and redeem 4.2 billion, make di total supply reach 64.6 billion. For di week wey end for August 14, USDC supply climb again by another 2.9 billion as dem issue 8.6 billion token and redeem 5.7 billion. Overall, USDC supply don reach 67.5 billion token now. Di reserves wey dey back USDC reach $67.6 billion, including $10.2 billion for cash and $57.4 billion for di Circle Reserve Fund. Dis steady growth for USDC supply show say stablecoin liquidity strong and market get confidence. Traders suppose watch USDC supply trends and reserve ratios for better understanding of market liquidity and how price fit move.
Neutral
Di report show say USDC supply don increase well well for two weeks in a row, e mean say demand strong and market liquidity don deep wella for crypto market. As USDC na fully collateralized stablecoin, e price still dey pegged to $1, so e no go affect price directly. For short term, traders fit benefit from better market depth and less slippage when dem dey trade. For long term, as reserves dey grow, e go boost confidence for USDC stability but e no too get chance to change the dollar peg.