USDC Circulation Drops $800M as Redemptions Outpace New Mints
Circle reports a net decrease in USDC circulation as redemptions exceed new token issuance.
Circle reports a net decrease in USDC circulation as redemptions exceed new token issuance. USDC (USDC) is trading at ₹95.05 ($1.00). This is an original Token Times brief based on reporting by Live Bitcoin News, with live market data added, as of Sun, 01 Nov 2026 12:15:01 UTC.
This development indicates a potential shift in market sentiment or liquidity preferences, as more USDC is being redeemed than minted, impacting the stablecoin's circulating supply and reserves.
- USDC circulation fell by $790M in the past week.
- Redemptions ($11.71B) outpaced new mints ($10.92B).
- Total USDC reserves remain at $71.41B.
- Circulating supply discrepancy: reported $69.97B vs DeFiLlama $71.93B.
- Circle Mints $500M USDC on Solana, Boosting Stablecoin Supply
- Circle Mints $500M USDC on Solana Amid Market Interest Surge
- USDC Treasury Mints $250M, Raising Questions on Market Impact
- USDC Circulation Drops $800M as Redemptions Outpace New Mints — this brief
- USDC Treasury Mints $250M Amid Stablecoin Demand Surge
On October 29th, Circle reported a net decrease in 
USDC circulation as redemptions outpaced new token issuance. Over the past week, the company redeemed about $11.71 billion in USDC while issuing $10.92 billion, resulting in a net reduction of approximately $790 million in circulation.
This decrease in circulation comes as the total USDC reserves remain robust at $71.41 billion, according to Circle's transparency report. However, there is a slight discrepancy in the circulating supply figures, with Live 
Bitcoin News reporting $69.97 billion while DeFiLlama shows $71.93 billion.
The broader crypto market remains relatively stable, with a total market cap of $2.67 trillion. Bitcoin is up 0.27% in the past 24 hours, while the overall market is flat. The Fear & Greed Index stands at 30, indicating a 'Fear' sentiment among investors.
USDC's price remains stable at $0.999857, with a 24-hour change of +0.02% and a 7-day change of +0.02%. The market cap of USDC is $71.77 billion, according to live data.
Since this brief published about 26 hours ago, USDC (USDC) has moved from ₹95.04$0.9999 to ₹95.05$1.00 — +0.01%.
The chart plots USDC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDC ≈ ₹103.51 (about $1.00), up 0.0% over 24 hours. The rupee itself trades about 8.9% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 31, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
USDC Circulation Drops $800M as Redemptions Outpace New Mint — questions & answers
Why is USDC circulation decreasing?
Redemptions of USDC have outpaced new token issuance, leading to a net decrease in circulation.
What is the current circulating supply of USDC?
DeFiLlama reports $71.93 billion, while Live Bitcoin News reports $69.97 billion.
How much are USDC's total reserves?
Circle reports total reserves of $71.41 billion.
How much is 1 USDC worth in rupee today?
About ₹103.51 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.00. The rupee price moves with both USDC's US-dollar price and the USDT/INR rate; use our USDC in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Live Bitcoin News. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.