Circle has reportedly minted approximately 750 million USDC on the Solana blockchain within the past 24 hours, according to data shared by @SolanaFloor. This minting activity suggests an increase in USDC liquidity on Solana, which has become the second-largest holder of USDC by supply. As of early October, Solana held approximately $7.3 to $7.45 billion in native USDC. This increase in stablecoin reserves on Solana could indicate potential demand for the network’s native token SOL, although it remains uncertain whether this newly minted USDC has been actively circulated or deployed in markets.
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