Circle Pushes 2025 USDC Minting on Solana to $24 Billion

Circle has minted an additional $1.25 billion of its USD Coin on the Solana network during the past week, bringing total USDC issuance on Solana this year to about $24 billion, according to on-chain data compiled on 18 August.

The fresh mint lifts the overall supply of dollar-pegged tokens circulating on Solana to roughly $11.4 billion, three times the level recorded in July 2024. Solana processed about $215 billion of stablecoin transfers in July alone, underlining the blockchain’s growing share of the fast-expanding market for tokenised dollars.

Industry-wide, stablecoins now command a market capitalization of roughly $277 billion, equal to 7.02 percent of the total crypto asset class. In a recent note, Goldman Sachs said the addressable market for stablecoins could reach the “trillions” as institutional demand for digitally native cash substitutes accelerates.

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