The popular stablecoin USD Coin (USDC) has seen outflows of around $3 billion over three days this week, issuer Circle said in a blog post on Thursday.
According to the blog post, Circle redeemed $3.8 billion USDC and minted $0.8 billion new USDC tokens between Monday and Wednesday this week, making the net outflow $3 billion.
The redemptions could easily be seen as a reduction in USDC’s market capitalization:…
Read More: USDC Stablecoin Sees Massive $3 Billion Outflows in Three Days – What’s Going On?