Circle Mints About $500 Million in USDC on Solana in 24 Hours

The update says Circle issued roughly $500 million in USDC on Solana in 24 hours, while a separate source says USDe supply on the network rose $564 million in a week due to lending-market demand.

SOL
USDC
USDE

Summary

Circle minted approximately $500 million worth of USDC on Solana in the last 24 hours, according to the update provided, adding fresh stablecoin liquidity to the network. Separately, another source says USDe supply on Solana rose by $564 million over one week, attributing the increase to demand from lending markets. Together, the reports point to a sharp rise in stablecoin activity on Solana, though they concern different assets and neither source provides detailed transaction-level or protocol-specific data.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a 1:1 value with the dollar.
  • USDe: A crypto-linked digital asset used in decentralized finance applications for trading, lending, and collateral.
  • Solana: A blockchain network built for fast transactions and low fees, widely used for payments, trading, lending, and decentralized applications.