USDC Supply Contracts as Redemptions Exceed New Issuance
Circle’s seven-day transparency figures show more USDC was redeemed than issued, reducing the stablecoin’s circulating supply by about $830 million.
Circle’s seven-day transparency figures show more USDC was redeemed than issued, reducing the stablecoin’s circulating supply by about $830 million. USDC (USDC) is trading at $0.9997. This is an original TLT brief based on reporting by Live Bitcoin News, with live market data added, as of Sat, 07 Nov 2026 12:45:03 UTC.
The contraction reflects a net withdrawal from USDC rather than new token creation, making redemption activity and supply tracking relevant indicators of demand for dollar-denominated liquidity.
- Circle reported $13.49 billion of redemptions over seven days
- New USDC issuance totaled about $12.66 billion
- Net circulation declined by roughly $830 million
- USDC traded near $1 as the broader crypto market stayed flat
- USDC Circulation Drops $800M as Redemptions Outpace New Mints
- Circle expanded USDC supply by $1B in minutes without breaking its dollar peg
- USDC Supply Contracts as Redemptions Exceed New Issuance — this brief
Circle’s November 5 transparency window showed about $13.49 billion of 
USDC redeemed over seven days, exceeding the approximately $12.66 billion issued during the same period. The $830 million difference resulted in circulating supply declining to roughly $69.21 billion, according to Live 
Bitcoin News’ summary of the figures. Total reserves stood near $70.49 billion.
Live on-chain data provides a newer supply reading: DeFiLlama showed USDC circulating supply at $70.68 billion, above the $69.21 billion figure reported for Circle’s transparency window. The figures cover different points or methodologies and were not directly equivalent, but both place the stablecoin’s circulating supply in the vicinity of $70 billion.
The redemptions followed issuance, with the amount removed from circulation surpassing the amount added by about $830 million. Live Bitcoin News characterized the period as a net contraction in the USDC float. Circle’s reported reserves were also slightly higher than the circulating supply disclosed for the same window, a difference of approximately $1.28 billion.
USDC was priced at $0.999664 and had moved 0.02% over 24 hours and -0.02% over seven days, according to the supplied live market data. Its market capitalization was $70.51 billion. The broader crypto market was flat with a total capitalization of $2.61 trillion, while Bitcoin was down 0.22% over 24 hours and the Fear & Greed Index registered 25, labeled Extreme Fear.
The immediate point to monitor is whether redemptions continue to exceed issuance, producing further contraction in USDC circulation. Supply and reserve figures remain important alongside the token’s peg performance, while the wider market backdrop shows little broad movement despite the reported reduction in USDC supply.
Since this brief published about 2 hours ago, USDC (USDC) has moved from $0.9997 to $0.9997 — +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 ≈ ₦1,378.51 (about $0.9997), up 0.0% over 24 hours. The naira itself trades about 2.3% 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 · November 7, 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 Supply Contracts as Redemptions Exceed New Issuance — questions & answers
How much did USDC supply fall?
Circle’s November 5 transparency window showed a net decline of about $830 million, taking circulating supply to approximately $69.21 billion.
What were USDC redemptions and issuance?
Circle reported about $13.49 billion of redemptions and $12.66 billion of issuance over seven days.
Is USDC still trading near one dollar?
USDC was priced at $0.999664, up 0.02% over 24 hours and down 0.02% over seven days.
How much is 1 USDC worth in naira today?
About ₦1,378.51 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.9997. 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.