Circle removed $9 billion from USDC supply in the last three months

The total supply of the stablecoin USD Coin (USDC) has declined from $55.55 billion to $46.57 billion in the last 90 days, based on data from DeFiLlama.

While USDC supply has dropped, Tether (USDT) supply has increased within the same period. USDT’s circulating supply is up more than $2 billion since early July. Tether’s dominance of the stablecoin market has also risen to a three-month high of 45.9%.