Circle Mints Over $588 Million USDC in 24 Hours Amid Market Surge
Circle has minted over $588 million in USDC within 24 hours, coinciding with a bullish trend in the cryptocurrency market and an all-time high for the S&P 500. Key points include:
- Four major mint activities reported by Stablecoin Printer increased USDC's market cap to $65.85 billion.
- Minting events on August 11 and 12 included:
- $138.67 million at 6:15 p.m. (UTC) on August 11
- $173.06 million one hour later
- $152.42 million on August 12
- $124.27 million shortly after
- USDC is increasingly preferred for DeFi operations compared to BTC, which benefits more from Tether’s USDT.
- Ethereum ETFs saw a net inflow of 231,717 ETH ($1.03 billion), while Bitcoin ETFs had inflows of only 1,586 BTC ($189.72 million).
- Bitcoin dominance has dropped below 60% as altcoins outperform.
- The U.S. stock market is also experiencing bullish trends, with the S&P 500 reaching 6,438.14 points.
- The total cryptocurrency market capitalization approaches $4 trillion, with altcoins exceeding $1.6 trillion.
Four Posts of $588M USDC Minted in 24 Hours
Bitcoin Dominance Index (BTC.D)