USDC circulation decreased by 800 million (about 1.1%) over 7 days… 69.2 billion

USDC’s circulating supply fell by about 800 million tokens, or roughly 1.1%, over the seven days to Nov. 5 to 69.2 billion, as redemptions of about 13.5 billion exceeded new issuance of about 12.7 billion, according to Circle’s transparency disclosure. Circle ($CRCL) reported reserves of approximately $70.5 billion against the 69.2 billion supply, down from about 70 billion tokens on Oct. 29. The net contraction shows continued redemption pressure even as issuance remains active, rather than a halt in minting. Watch whether the redemption trend persists in Circle’s next weekly update and whether reserves track supply changes closely.