Circle issued about 7.5 billion USDC and redeemed roughly 6.7 billion USDC during the seven days ended August 20, resulting in an increase in circulating supply of around 800 million tokens.

Odaily estimates that total USDC in circulation reached 72.7 billion tokens, with reserves totaling about $72.9 billion.

The reserve mix includes roughly $48.1 billion in overnight reverse repurchase agreements, about $12.7 billion in U.S. Treasuries maturing in under three months, around $11.4 billion deposited at systemically important institutions, and about $700 million in other bank deposits.