According to ChainCatcher, official data shows that over the 7-day period ending February 12, Circle issued approximately $8.4 billion in USDC and redeemed approximately $5.8 billion in USDC, resulting in a net increase of about $2.6 billion in circulation. The total circulating supply of USDC is $73.1 billion, with reserves totaling approximately $73.4 billion, comprising approximately $42.9 billion in overnight reverse repurchase agreements on U.S. Treasuries, approximately $19.8 billion in U.S. Treasuries with maturities under three months, approximately $10.1 billion in deposits at systemically important institutions, and approximately $600 million in other bank deposits.
USDC circulation increases by $2.6 billion in 7 days
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Summary
MiCA compliance pressures and CFT measures are shaping stablecoin dynamics as USDC circulation increased by $2.6 billion over seven days. Between February 5 and 12, 2026, Circle issued $8.4 billion and redeemed $5.8 billion, pushing the total supply to $73.1 billion. Reserves now total $73.4 billion, including $42.9 billion in overnight reverse repos, $19.8 billion in short-term Treasuries, $10.1 billion in deposits at systemically important banks, and $600 million in other deposits.
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