Circle Just Minted Over $1.5 Billion in USDC
Between August 11 and 13, Circle created about 1.66 billion USDC (a type of digital dollar), spread across 15 transactions. One of the biggest was a single mint of 400.8 million USDC on August 13, plus two mints of 250 million USDC each on August 12.
At the same time, Circle removed 137 million USDC from circulation through two “burn” transactions. That means the net increase in USDC supply was around $1.52 billion over those three days.
Circle hasn’t said why it issued so much new USDC, but it comes after a period of people cashing out earlier this year. It also lines up with a recent rise in crypto trading activity.
USDC is the second-largest stablecoin (a crypto token tied to the U.S. dollar), with a market value of about $32 billion before this new batch. When more USDC is minted, it usually means more real dollars are entering the crypto market, since each token is backed by actual cash.
