Whale Alert recorded two 250 million USD Coin (USDC) mints at the USDC Treasury on Solana on Oct. 20, creating 500 million tokens without establishing how many entered circulation.
The transactions were recorded at 3:47 p.m. ET (19:47 UTC) and 3:49 p.m. ET (19:49 UTC). Whale Alert valued them at $250,092,875 and $250,092,125, respectively. The transaction entries identify the Treasury as the recipient.
The entries account for the minting, but show no later distribution of the tokens. The 500 million USDC total therefore cannot be treated as confirmed circulation or trading activity.
Circle, USDC’s issuer, says its Cross-Chain Transfer Protocol burns tokens on one blockchain before minting the same amount on another. That process is one reason a mint alone does not establish an increase in USDC supply across networks.
The Oct. 20 transactions follow a separate 500 million USDC issuance batch on Solana. That earlier batch also consisted of two 250 million USDC mints.
