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Circle minted an additional 1 billion USDC on the Solana network.
According to data from Onchain Lens, Circle has issued an additional 1 billion USD worth of USDC on the Solana network in the past 24 hours, marking a significant expansion of this stablecoin in the high-speed ecosystem. As of October 11, the total amount of USDC that Circle has minted on Solana has reached 12.25 billion USD.
The move to increase supply indicates that the demand for USDC on Solana continues to rise, especially in the context of the robust recovery of DeFi activities, payments, and on-chain transactions on this network. The ramping up of USDC minting also reflects Circle's efforts to expand liquidity and strengthen its stablecoin position amid the growing competition in the cryptocurrency market.