Circle mints approximately 3.75 billion USDC on Solana in the last week

Circle has reportedly minted about 3.75 billion USDC on the Solana blockchain over the past seven days, according to data shared by @SolanaFloor on social media. This significant issuance represents gross minting and highlights the ongoing expansion of USDC liquidity on the Solana network. As of early October, Solana’s native USDC holdings were approximately $7.3 billion, constituting about 10% of the total USDC supply. This development suggests that Solana continues to be a key platform for stablecoin activity, supporting various applications in payments and decentralized finance (DeFi). Markets will be monitoring any further increases in USDC minting on Solana and its potential impact on Solana’s price. Key indicators include regulatory developments, such as SEC decisions on spot-SOL ETFs, and technological milestones like the successful activation of Solana’s Alpenglow upgrade.

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