In the most frightfully punctual manner, the USDC Treasury, on April 3rd, did what it does best—threw a quarter of a billion USDC tokens into the Solana pot, as per the sharp-eyed chaps at blockchain tracker Whale Alert.
This delightful minting episode occurred a mere three hours prior to the ink drying on this missive, with a cool $249,971,649 worth of USDC making its debut on the Solana blockchain. Investors, it seems, are simply mad for liquidity in the crypto world’s seventh-largest showboat.
This USDC minting escapade on Solana comes hot on the heels of a rather smashing milestone, what with the network’s recent integration with Circle, the USDC issuer. A strategy, one might say, to leave USDC’s footprints all over the blockchain.
It’s rather like watching a cat chase a laser pointer—the increasing supply of USDC on Solana is all due to the dizzying DeFi activity on the network. DefiLlama’s data reveals that Solana has clawed its way to become the second-largest network by DEX volume, with a whopping $6.28 billion in total value locked in DeFi. Splendid stuff!
With 250 million USDC frolicking into circulation, it’s clear as day that liquidity is the name of the game, and both institutions and retail investors are singing its praises.
The Treasury’s dogged determination to keep issuing the Circle-backed stablecoin, USDC, is about as surprising as finding a cucumber sandwich at a garden party. The recent regulatory love fest has piqued global interest in the cryptocurrency, making it the belle of the crypto ball.
And so, the Treasury’s stablecoin minting spree continues, a veritable safe haven for investors in these tumultuous crypto times, where major cryptocurrencies are taking a plunge faster than you can say ‘Bob’s your uncle’.
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2025-04-04 03:15