USDC Circulation Drops $800M as Redemptions Outpace New Mints
Circle's October 29 report shows USDC circulation decreased by nearly $800 million due to higher redemption activity.
Circle's October 29 report shows USDC circulation decreased by nearly $800 million due to higher redemption activity. USDC (USDC) is trading at $0.9998. This is an original TLT brief based on reporting by Live Bitcoin News, with live market data added, as of Sat, 31 Oct 2026 13:15:02 UTC.
This decrease in USDC circulation indicates a shift in stablecoin demand dynamics, which could reflect changing market sentiment or capital allocation preferences among crypto investors.
- USDC circulation fell by $790 million in the past week.
- Redemptions ($11.71B) exceeded new mints ($10.92B).
- Total USDC reserves remain robust at $71.41 billion.
- Current USDC market cap is $71.77 billion.
- Circle Mints $500 Million USDC on Solana Blockchain
- Circle Mints $500M USDC on Solana Amid Growing Stablecoin Demand
- USDC Treasury Mints $250M in New Stablecoins, Raising Market Liquidity
- USDC Circulation Drops $800M as Redemptions Outpace New Mints — this brief
According to Circle's latest transparency report, 
USDC circulation experienced a net decrease of about $790 million in the week ending October 29. This decline was driven by redemptions totaling $11.71 billion, which exceeded new minting activity of $10.92 billion.
The data shows that while USDC remains a major stablecoin in the market, the recent trend indicates a reduction in its circulating supply. This could be attributed to various factors, including market conditions, investor behavior, or capital rotation into other assets.
Despite the circulation decrease, USDC's total reserves remain robust at $71.41 billion, providing confidence in its stability. The current market cap of USDC, as reported by DeFiLlama, is $71.77 billion, slightly higher than the reported circulation figure.
In the broader market context, the total crypto market cap stands at $2.67 trillion, with 
Bitcoin showing a modest 0.27% gain over the past 24 hours. The Fear & Greed Index remains at 30, indicating a 'Fear' sentiment among investors.
The decrease in USDC circulation may reflect short-term market dynamics or a shift in how investors are managing their stablecoin holdings. It will be important to monitor whether this trend continues in the coming weeks and what impact it might have on the broader crypto market.
Since this brief published about 3 hours ago, USDC (USDC) has moved from $0.9999 to $0.9998 — -0.00%.
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 TLT'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 ≈ ₦1,373.88 (about $0.9998), up 0.0% over 24 hours. The naira itself trades about 2.1% above the official rate on the P2P market, so a Nigerian 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.
TLT 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 did USDC circulation decrease?
The decrease was due to redemptions of $11.71 billion exceeding new mints of $10.92 billion.
Is USDC's stability at risk?
No, USDC's total reserves of $71.41 billion suggest its stability remains intact.
What is the current USDC market cap?
The current USDC market cap is $71.77 billion according to DeFiLlama.
How much is 1 USDC worth in naira today?
About ₦1,373.88 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.9998. The naira price moves with both USDC's US-dollar price and the USDT/NGN rate; use our USDC in naira page for any amount.
Which outlets reported this story?
This is an original TLT 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 TLT 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.