USDC Treasury mints 130.7M USDC as Circle’s weekly issuance approaches $5B
USDC (USDC)
Editor:
Eugene Serbin
cryptobriefing.com reports that institutional demand is pushing USDC’s circulating supply past $73 billion, with Solana becoming a primary minting destination. The USDC Treasury executed a single transaction minting 130,724,040 USDC, valued at approximately $130.76 million, according to on-chain monitoring service Whale Alert. This event contributes to a larger wave of issuance where Circle processed roughly $5 billion in gross USDC minting during the week ending August 26, 2026.
Institutions deposit dollars into Circle reserve accounts, which Circle verifies before creating new USDC tokens on-chain in an equivalent amount. Circle backs every token with reserves held predominantly in short-duration US Treasuries and cash equivalents, totaling around $74 billion to cover the just over $73 billion circulating supply. Solana saw multiple individual minting events of $250 million each during the same week, combining to roughly $1.25 billion minted on the network.
Hyperliquid serves as a concrete example of this trend, as Circle plays a technical support role for the platform’s $5 billion USDC reserve. This concentration of new issuance on Solana signals that institutional capital views the blockchain ecosystem as viable infrastructure. The growth trajectory keeps USDC in direct contest with Tether’s USDT for dominance in the stablecoin market. The $5 billion weekly gross issuance figure suggests that the inflow is part of a durable trend rather than a one-week anomaly.
How the market reacted
Whalio's own Binance spot order flow for USDC, measured when this story was written up on 31 August 2026. Not the outlet's figures.
USDC is trading at $1.00 with a 1-hour buy ratio of 53.2%, indicating immediate short-term buying interest. However, this momentum fades over longer timeframes, with the 4-hour buy ratio dropping to 47.0% and the 24-hour ratio settling at 46.2%. The 1-hour volume delta shows a positive flow of +$8,149,677, contrasting sharply with the 4-hour delta of -$40,251,154 and the 24-hour delta of -$87,103,302. A positive volume delta means buyers are executing more trades at the ask price, while a negative delta indicates sellers are more aggressive. The cumulative volume delta (CVD) for the 24-hour close stands at -$130,029,123, confirming that net selling pressure has dominated the day. Despite a spot volume of $1,142,498,375 across 373,661 trades, the market has seen net buying for only 8 of the last 24 hours.
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 23 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.
The current daily activity stands in contrast to the preceding week, where the average buy ratio was 49.0%. Today’s 24-hour buy ratio of 46.2% is 2.8 percentage points lower than the weekly average, indicating weaker relative buying pressure. Volume today was 0.39x the weekly average, suggesting significantly reduced trading activity compared to the norm. Over the past seven days, there were zero days of net buying, and the total volume delta for the eight-day period was -$478,959,305. This context confirms that the recent trading day is not an unusual outlier but rather consistent with a week characterized by persistent net selling and subdued volume.