Circle Mints $250M USDC on Solana, Boosting Stablecoin Liquidity 24%

Circle has minted an additional $250 million USDC stablecoin on the Solana blockchain, marking a significant development in the cryptocurrency ecosystem. This minting, which took place on March 17, 2025, is part of a broader effort to enhance USDC liquidity across multiple blockchains. With this latest resupply, Circle’s total USDC stablecoin supply on Solana has reached $10.25 billion, underscoring the growing popularity of stablecoins for fast and cost-effective transactions. This move also reflects increasing market confidence in Solana’s blockchain technology.

This development coincides with the launch of the first-ever futures exchange-traded funds (ETFs) based on Solana in the United States. These ETFs, managed by Volatility Shares LLC, offer investors new avenues to engage with Solana’s price movements through traditional investment methods. The two new ETFs, SOLZ (standard exposure) and SOLT (2x Leveraged Exposure), are expected to further bolster the adoption of Solana by providing institutions with access to the blockchain via familiar investment vehicles.

Solana’s rising prominence in decentralized finance and payment systems has attracted major players like Circle. The fintech company’s decision to mint a substantial volume of USDC stablecoin on Solana’s network underscores its confidence in the blockchain’s long-term growth potential and scalability. As stablecoins like USDC become increasingly integral to the global digital asset industry, further expansion on high-performance blockchains like Solana is likely to continue shaping the future of cryptocurrencies.

Following the recent feature on Circle, Solana’s price chart has shown positive movement. The day started at $125.5, with a slight upward momentum from the previous day taking SOL to $123. However, the RSI indicator showed almost overbought levels, signaling a price correction. A brief downtrend followed, taking SOL to $124.1 by 02:45 UTC. As selling pressure neared oversold levels, a golden cross formed on the MACD, initiating a brief uptrend that led SOL to find resistance at $126.8. A narrow trading range formed as SOL waited for a breakout, which eventually occurred at 10:30 UTC. Half an hour later, a notable golden cross emerged as the price spiked upward, finding resistance at $129.1 temporarily.

The price faced a brief decline before the next positive movement, which occurred in the form of a momentous spike as SOL went from $127.5 at 12:45 UTC to $132.7 at 14:00 UTC. Buying pressure soon reached saturation, and a downtrend commenced. By 18:45 UTC, the downtrend had taken SOL to $130.2. At this point, another golden cross on the MACD signaled a price hike, and another skyward spike was seen as Solana traded at $134.1. As overbought conditions faded out, the price declined, but favorable activity on the MACD led SOL to continue finding the $134 level time and again. The support trendline kept rising as a bullish triangle was observed, and an upward breakout was on the cards. An uptrend followed, leading SOL to find its 24H high at $136. Selling pressure soon increased, and the SOL price was brought back to $132, continuing to fluctuate around that mark.

Solana’s price performance in the last 24 hours has been impressive. However, as the SOL price aims to return to $150+ levels, the coming few days are crucial. Solana was last seen battling the $136 resistance, which had caused problems a few days ago as well. To cross that barrier, SOL will need sustained bullish momentum. For now, the trading range may have a negative breakout, as a death cross on the MACD seems to be on the cards.