USDC circulation increased by approximately 100 million in the past 7 days

Circle's weekly issuance and redemption data shows a modest net expansion of roughly 100 million USDC, bringing total circulation to 71.9 billion coins. The reserve breakdown reveals a heavily short-duration portfolio, with the largest allocation in overnight reverse repurchase agreements at $47.7 billion, followed by short-term Treasury securities and deposits at systemically important institutions. This reserve composition underscores Circle's conservative liquidity posture, which is a key factor in maintaining USDC's peg stability and regulatory confidence. The marginal supply increase suggests steady but unremarkable demand growth for the stablecoin, contrasting with periods of rapid expansion or contraction seen in prior market cycles. Observers should watch whether weekly net issuance accelerates or reverses in coming weeks, how reserve allocations shift with interest rate expectations, and whether competitive dynamics with other stablecoins influence Circle's issuance patterns.