In a move that reinforces the growing influence of Solana (SOL) in the stablecoin market, the USDC treasury has minted $250 million on the blockchain, according to information released today by the Whale Alert platform.
The transaction, which took place on April 1, highlights the continued expansion of the Solana ecosystem and the crucial role of USDC, the second-largest stablecoin on the market, in this growth. The minting of $250 million in USDC by Circle, the stablecoin issuer, represents another milestone in Solana’s trajectory, which has established itself as one of the leading blockchains for stablecoin transactions. Circle’s action highlights the growing demand for USDC on the Solana network, driven by the speed and efficiency of transactions.
250,000,000
#USDC (249,978,750 USD) minted at USDC Treasury https://t.co/jLMQ9LTfvh – Whale Alert (@whale_alert) April 1, 2025
It is worth noting that the giant stablecoin issuer Circle has a notable presence in this sector on the Solana blockchain, with a market share of 77%. The influx of $250 million in USDC brings the total minted on Solana in 2025 to an impressive $7.75 billion, demonstrating Circle’s confidence in the blockchain and the growth potential of the ecosystem.
Currently, Solana is the sixth largest cryptocurrency in the market, with a market capitalization of US$64.6 billion. At the time of publication, the price of SOL was quoted at US$126.14, down 0.4% in the last 24 hours. The asset has seen a significant drop in the last few days, devaluing almost 13% in a week.
Circle’s move could attract more institutional interest to Solana, cementing its position as one of the leading blockchains for stablecoin transactions. The growing adoption of USDC on Solana reinforces the importance of stablecoins in the crypto ecosystem and Solana’s crucial role in this.