Circle minted roughly 5 billion USDC over the past week, according to onchain data from analytics platform Solscan. That makes the run one of the biggest weekly issuance pushes the stablecoin company has made yet.
The 5 billion USDC mint in context
Solscan's data shows the mint occurred over a seven-day stretch. It's a big number—the equivalent of $5 billion in tokens added to the supply. The issuance is also one of many billion-dollar mints that have been tracked on the blockchain, meaning this isn't an isolated event.
What Solscan's data reveals
Solscan, an analytics platform that monitors blockchain activity, flagged the mint. The tool tracks token creation and transfers across networks, giving a public ledger of where USDC is being issued. This week's figure stands out because it's far above the typical weekly issuance.
Circle hasn't explained what the new tokens are for. The data shows the mint happened, but not the intended use.
