Circle mints record $3.25 billion in USDC on Solana

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Circle mints record $3.25 billion in USDC

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Olga Shendetskaya

06.04.2026

Circle mints record $3.25 billion in USDC on Solana — Circle sharply increased USDC issuance on Solana

Circle sharply increased USDC issuance on the Solana network over the past week, bringing total minting to about $3.25 billion. The issuance of a stablecoin does not automatically mean the market will rise, but it is usually viewed as a signal of capital entering the ecosystem.

Highlights

Circle minted about $3.25 billion in USDC on Solana over seven days, the highest weekly total of 2026.
Large-scale issuance is usually interpreted as a sign of new liquidity for trading, DeFi, and transfers.
By late March, Solana accounted for about 10.24% of total USDC supply and ranked second only to Ethereum.

According to SolanaFloor, this marked the largest weekly volume of USDC issuance on Solana since the start of 2026 and once again drew attention to where new liquidity is flowing within the crypto industry.

The report notes that the sharp increase in USDC supply on Solana may be linked to growing demand from DeFi protocols, trading activity, and transfers between platforms.

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Why the issuance on Solana stood out

According to market observers, issuance on this scale reflects more than just the technical minting of tokens. When Circle places billions of USDC into circulation over a short period of time, it usually means the infrastructure is preparing for an increase in trading and settlement activity. On Solana, such liquidity inflows are especially sensitive because the network is actively used not only for spot trading but also for onchain lending and derivatives activity.

In a broader context, this fits into the trend of Solana gaining influence in the dollar stablecoin segment. According to KuCoin, by late March Solana accounted for about 10.24% of total USDC supply, making it the second most important network for the stablecoin after Ethereum. Even if exact shares change quickly, the trend itself shows that Solana is increasingly being used not only as an environment for memecoins, but also as infrastructure for large-scale liquidity.

What it means for the market

Analysts point out directly that the key factor is not the issuance itself, but the subsequent movement of the USDC. If the tokens flow into DeFi, market making, and trading infrastructure, that could increase activity in the Solana ecosystem and support turnover across the market.

If, however, a large share of the funds remains unused or is quickly withdrawn, the impact will be far more limited.

We have previously highlighted that Circle launches cirBTC and enters institutional wrapped Bitcoin market.

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