Circle’s USDC Treasury burned 100 million USDC on Solana on November 2, 2026, in a transaction valued at approximately $100.151 million, then minted 1 billion USDC on the network between 02:12 and 02:22 UTC+8 on November 3. The mint occurred through four transactions of 250 million USDC each, with Solscan identifying the receiving address as a Circle-controlled USDC Treasury account holding about 1.756 billion USDC. Circle uses minting and burning to manage USDC supply across blockchains in response to demand and liquidity conditions. The Solana transactions represent network-level supply adjustments rather than necessarily a change in USDC’s total cross-chain supply. USDC is designed to maintain one-to-one backing by U.S. dollars. The burn was flagged by Whale Alert and followed other large 2026 burns, including 107 million USDC in August and burns of 134.6 million and 151 million USDC in recent months. Notable whale activity and possible accumulation strategies were also reported, but no unusual market disruption was identified.