Business

Circle Mints $250 Million Worth Of USDC

Circle has minted an additional $250 million in USDC on Solana (SOL), bringing its total issuance on the blockchain to $1 billion this week, driven by increasing demand from traders and DeFi protocols.

Haider Jamal
February 25, 2025

$11.5 Billion Stablecoin Supply

This new minting raises Solana’s total stablecoin supply to $11.579 billion, with USDC holding 78% of the market. Since January, Circle has minted $8 billion in USDC, reflecting growing institutional and retail interest in the ecosystem.

USDC’s market cap on Solana is now just over $9.09 billion, leading over competitors like USDT. Despite USDC’s dominance, Tether remains the second-largest stablecoin on Solana with a $1.968 billion market cap.

Meme Coins Still Popular

The stablecoin market on Solana surged by 110%, driven partly by meme coin activity. High-profile figures like Donald Trump and Melania Trump have entered the meme coin space, adding further volatility to the market.

Argentina’s President, Javier Milei, was also linked to a failed meme coin project called LIBRA, adding to the political drama surrounding these tokens.

Join Our FREE Newsletter

Subscribe to stay informed and receive latest updates on the latest happenings in the crypto world!

By submitting this form, you are consenting to receive marketing emails from: Crypto Weekly, 36 Blue Jays Way, Toronto, ON, M5V 3T3, http://cryptoweekly.co. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.