Circle mints nearly $500 million USDC on Solana, most remains in inventory

Circle, the US-based issuer of the dollar-pegged stablecoin USDC, minted close to $500 million in new USDC tokens on the Solana blockchain, according to on-chain data and tracker reports. Despite the large mint, a substantial portion of these freshly issued tokens remains unreleased and has yet to enter into active circulation on Solana. According to data from DeFiLlama, Solana’s minted USDC supply increased by approximately $643 million between November 10 and November 11, lifting the total minted figure to around $9.08 billion. Yet, in the same period, the actual circulating supply—USDC tokens available for transfers and use on Solana—rose by only $37 million to an estimated $7.12 billion.

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