On March 7th, Circle announced that it had issued a total of 2.6 billion USDC and redeemed 2 billion USDC in the last week, resulting in a net increase of 600 million USDC in circulation. This brings the total circulation of USDC to 29.3 billion US dollars, with an equivalent reserve to back it up. The reserve consists of approximately 3.6 billion US dollars in cash, while the Circle Reserve Fund holds the majority of the reserve, amounting to about 25.8 billion US dollars. This demonstrates the continued growth and stability of the USDC stablecoin.