Circle minted roughly $750 million in USDC on the Solana blockchain within 24 hours, injecting fresh dollar liquidity into one of crypto’s most active trading and DeFi ecosystems.
The issuance follows a series of large Solana-based mints, including another $750 million tranche and a week where $4.25 billion in USDC was created on the network.
The surge highlights Solana’s growing role as a primary venue for stablecoin activity, rather than a secondary chain.
USDC circulation has also rebounded strongly, climbing back toward record highs after recovering from the 2023 Silicon Valley Bank-related decline.
On-chain data shows Solana driving much of this growth, with rising trading volumes and DeFi activity boosting demand for dollar-denominated assets.
Market participants often view large stablecoin mints as “dry powder,” signalling capital entering the ecosystem rather than exiting.
The continued expansion of USDC on Solana suggests sustained demand from traders, institutions and protocols seeking fast, low-cost settlement infrastructure.
At the time of reporting, Solana price was $82.84.