Circle recently minted $750 million USDC on the Solana blockchain within 48 hours, highlighting the growing integration of stablecoins on this network to facilitate faster transactions amid burgeoning decentralized finance (DeFi) interest. This expansion coincides with Solana’s development, featuring 70% of its supply locked in staking, which underscores strong community participation and bolsters the network’s security and decentralization. These high staking levels and consistent transaction revenue, amounting to $245 million monthly, are creating a challenging environment for persistent short positions, which have been incurring daily costs to maintain their positions for 17 consecutive days.
Circle mints $750M USDC on Solana amid rising staking demand
