Circle mints $5B USDC in single week as cap hits $73.88B
USDC (USDC)
Editor:
Eugene Serbin
cryptobriefing.com reports that Circle minted $5 billion in USDC during the week ending August 26, marking the largest weekly issuance since early 2026. This surge pushed the stablecoin’s circulating market cap to approximately $73.88 billion, representing a 2.67% increase over seven days. The $5 billion figure reflects gross issuance, with redemptions reducing the actual net increase in circulating supply.
Earlier in the week, Circle and Tether collectively minted roughly $3 billion in stablecoins within a 48-hour window, bringing the total stablecoin market cap to $303.72 billion. On-chain activity intensified alongside issuance, with USDC’s adjusted transaction count rising 31.5% week-over-week. A substantial portion of this minting occurred on Solana, where individual transactions reached up to $250 million.
Specifically, a single $250 million mint hit the Solana network on August 20, followed by a $1 billion mint within 24 hours five days later. Circle also served as the technical provider for Hyperliquid’s $5 billion USDC reserve during this period. For traders, the gap between gross minting and redemptions offers a clearer view of institutional money flow than the gross figure alone. Tracking net supply growth alongside transaction velocity provides a more accurate picture of where liquidity is actually moving.
How the market reacted
Whalio's own Binance spot order flow for USDC, measured when this story was written up on 26 August 2026. Not the outlet's figures.
USDC is trading at $1.0000 with a 1-hour buy ratio of 46.0% and a 4-hour buy ratio of 45.6%, both slightly below the 47.9% seen over the last 24 hours. This indicates that buying pressure is fading as the timeframe extends, with sellers maintaining a slight edge in recent short-term intervals. The 1-hour volume delta is -$16,270,912, while the 4-hour delta is -$32,684,281, showing consistent net outflow in the immediate term. Over 24 hours, the volume delta stands at -$119,312,698, confirming that selling pressure has outweighed buying for the majority of the day. The cumulative volume delta at the 24-hour close is -$146,376,579, reflecting a sustained period of net selling. Net buying occurred for only 10 out of the 24 hours, highlighting a day where the market leaned toward distribution rather than accumulation.
The latest daily buy ratio of 50.2% sits at the 73rd percentile of the last 322 days, against a median of 48.4% - stronger buying than most days.
Twenty-four hours later
What USDC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for USDC, averaged over the days leading up to the story.
Compared to the preceding week, today’s buy ratio of 47.9% is 2.1 percentage points lower than the 7-day average of 50.0%. Trading volume today was 0.89 times the weekly average, indicating a quieter day for USDC spot activity. The 24-hour volume delta of -$119,312,698 contributes to the 8-day total delta of -$162,776,293, showing that selling pressure has been a persistent theme over the week. With only 2 of the past 7 days showing net buying, today’s performance aligns with a broader trend of subdued accumulation. The price has remained stable at 0.0% change over the 8-day period, suggesting that despite the volume fluctuations, the market has found equilibrium.