Circle Boosts USDC on Solana to $8B by 2025

Circle, the issuer of the popular stablecoin USDC, has minted an additional $250 million worth of USDC on the Solana network, according to data from OnchainLens. This brings the total amount of USDC minted on Solana to $8 billion by 2025.

The move by Circle comes as the stablecoin market continues to grow, with USDC being one of the largest stablecoins by market capitalization. The Solana network, known for its high speed and low gas fees, has become an increasingly popular choice for stablecoin issuers and decentralized finance (DeFi) platforms.

Circle's decision to mint more USDC on the Solana network could be seen as a vote of confidence in the network's capabilities and a sign of the growing demand for stablecoins in the DeFi ecosystem. As the stablecoin market continues to evolve, it will be interesting to see how Circle and other issuers adapt to the changing landscape and how the Solana network continues to grow and develop.