Blockchain monitoring data show Circle’s USDC Treasury address minted roughly 1.66 billion USDC between 11 and 13 August, equivalent to about $1.66 billion. The issuance occurred in at least 15 transactions, including a single 400.8 million-token mint on 13 August and two separate 250 million-token mints the previous day. Circle simultaneously removed about 137 million USDC from circulation through two burn transactions on 13 August, leaving a net increase of approximately $1.52 billion over the three-day period. The company has not publicly commented on the fresh supply, which follows a series of redemptions earlier in the year and comes as crypto-market trading volumes have begun to rebound. USDC is the second-largest U.S. dollar-pegged stablecoin, with a market capitalisation of roughly $32 billion before the latest mints. Stablecoin issuance is often viewed as a gauge of dollar liquidity entering digital-asset markets because each new token is typically created when an investor deposits an equivalent amount of cash with the issuer.