Solana soaks up $10.5b USDC as stablecoin rails go multi‑chain
The post Solana soaks up $10.5b USDC as stablecoin rails go multi‑chain appeared on BitcoinEthereumNews.com.
Circle has minted more than $10.5b USDC on Solana in a month, underscoring the chain’s rise as a high‑throughput rail for on‑chain dollars and DeFi flows. Summary Lookonchain and others tracked repeated mints — including single‑day bursts of $1b and 12‑hour runs of $550m — taking Circle’s recent Solana issuance above $10.5b. Research shows Solana stablecoin settlement hit roughly $650b in February, topping Ethereum for the first time, with USDC supply on Solana near $7.6b. Analysts say the pattern reflects real demand from exchanges, DeFi and payments, but it also concentrates a large chunk of dollar liquidity on one L1, raising tail‑risk questions. Circle has minted more than $10.5 billion worth of USD Coin (USDC) on Solana over the past month, a record‑setting burst of issuance that underscores Solana’s emergence as a preferred rail for high‑throughput dollar flows and DeFi activity. On‑chain tracker Lookonchain flagged the latest leg of that surge on X, noting that Circle “minted another 250M $USDC” in a single transaction and that, over the past month, the company has minted “a total of 10.25B $USDC on Solana,” with Binance and other news feeds amplifying the figures. That pace reflects an accelerating trend. WEEX, citing data from on‑chain analyst Onchain Lens, reported that Circle minted $550 million USDC on Solana within 12 hours and more than $10.19 billion in roughly 30 days, while BlockBeats and Cointech2u highlighted a 24‑hour period in early April when Circle minted $1 billion USDC on Solana, pushing total monthly issuance there to around $11.25 billion. Coinfomania summarized the pattern by saying Circle had maintained “a consistent daily issuance of $750 million” during the first week of April, adding that the steady flow “shows rising demand” and “points to growing activity across the Solana ecosystem.” The minting spree comes as Solana consolidates its…
Filed under: News - @ April 10, 2026 5:31 pm