The USDC Treasury minted 250 million USD Coin (USDC) on Solana, but the network-level issuance alone does not show whether USDC's total supply rose across blockchains.
The Solana mint occurred at 9:42 a.m. ET (14:42 UTC) on Nov. 10. It created 250 million tokens, valued at about $250 million, or roughly $1 each. Both figures refer to a single Solana mint.
Circle says its Cross-Chain Transfer Protocol burns USDC on one blockchain before issuing an equivalent amount on another. A Solana mint records issuance on that network; it does not account for a possible burn on the source chain. EconoTimes has previously explained why an individual USDC mint cannot establish a cross-chain supply change.
Whale Alert logged two earlier mints of 250 million USDC each on Solana on Oct. 20, totaling 500 million tokens. Both entries named the USDC Treasury as recipient.
