Circle minted $500 million in USDC on the Solana blockchain in July 2026, split into two tranches of $250 million each. This operation follows a similar $500 million mint that occurred on June 8, as part of a sustained liquidity migration toward Solana. Cumulative gross USDC minting on Solana exceeded $66 billion by mid-July, pushing Solana’s share of global USDC supply briefly above 10% during peak periods. Circle is simultaneously burning USDC on Ethereum and other chains. This trend reinforces Solana’s position as a primary venue for dollar-denominated on-chain activity.
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