Circle reportedly minted approximately 500 million USDC on the Solana blockchain over the past 24 hours, according to SolanaFloor data. As of November 9, Solana’s USDC supply stood at nearly $7 billion, accounting for a substantial share of the network’s stablecoin market. The minting could increase liquidity available for DeFi activity, but it does not necessarily mean the tokens have entered active circulation. Subsequent movements of the USDC and announcements expected at the Breakpoint conference will help determine the operation’s actual impact on Solana’s DeFi ecosystem.
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