Circle continues to actively mint USDC on the Solana blockchain. In September, the total issuance volume reached a significant level of 1.2 billion USDC, highlighting Solana's evolving role in the crypto ecosystem.
USDC Issuance on Solana
Today, Circle, the issuer of USD Coin (USDC), minted another 500 million USDC on the Solana blockchain. This brings the total USDC minted on Solana to an impressive 1.2 billion so far this month. This move indicates strong demand for stablecoins and highlights Solana's growing role in the crypto ecosystem.
Market Impact
USDC is one of the most trusted and widely used stablecoins, fully backed by U.S. dollar reserves. Minting 1.2 billion USDC in just 10 days reflects increasing institutional and retail interest. A significant portion of this supply is being minted on Solana instead of Ethereum, showing a shift in blockchain preference.
Circle's Strategy on Solana
Circle has been steadily expanding its USDC footprint across multiple chains, but Solana seems to be gaining a larger share lately. With Solana's ecosystem rebounding after past setbacks, the injection of fresh USDC liquidity is a positive signal for its ongoing recovery and adoption.
The increase in USDC issuance on Solana could reshape liquidity flows and draw more developer attention to this blockchain. If this minting pace continues, September may set new records for USDC issuance on Solana, influencing the entire crypto industry.
