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USDC Circulating Supply Falls by $100 Million in a Week

Circle's USDC stablecoin has experienced a decrease in circulating supply of around $100 million in the past week due to redemptions exceeding new coin issuance. This trend has been ongoing for the past year, resulting in a reduction of approximately $28 billion from USDC's market capitalization.

Meanwhile, Tether, Circle's main competitor, has seen significant growth in circulation over the past year, solidifying its leading position in the market. Despite smaller competitors entering the market, Circle and Tether still constitute over 83% of all dollar-pegged stablecoins.

Tether USDt Tether USDt $1.00
+0.02%
Circle stablecoin Tether
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