Circle Mints About $500 Million USDC on Solana.

Circle created about $500 million of USD Coin (USDC) on Solana over a 24-hour period, a new issuance that does not by itself show whether the tokens entered circulation.

Separately, USDC circulation fell by about 500 million tokens in the seven days through Oct. 22, to 72 billion. Circle issued about 12.8 billion USDC and redeemed about 13.3 billion in the period, a net difference of about 500 million. It was the second consecutive seven-day period with a decline of about that size. A week earlier, circulation stood at 72.5 billion after a similar drop.

A mint records tokens created on a network; it does not establish whether they entered circulation or reached trading venues. USDC is a dollar-linked stablecoin designed to maintain a value of $1. The 500 million-token Solana mint figure therefore cannot be treated as a measured change in USDC’s circulating supply.