Circle has engaged in a substantial series of USDC stablecoin minting activities on the Solana blockchain throughout June and July 2025. The company repeatedly minted approximately $250 million worth of USDC in multiple transactions, accumulating to around $17.5 billion minted on Solana in 2025 alone. Notably, on July 17 and 18, Circle minted $500 million worth of USDC within a 24-hour period, marking a significant acceleration in issuance. This surge in stablecoin supply on Solana reflects rising demand for liquidity in the decentralized finance (DeFi) ecosystem on the network. Concurrently, Tether also minted $3 billion worth of USDT stablecoins on Ethereum within 24 hours in mid-July, indicating a broader trend of increased stablecoin issuance across major blockchain platforms. The continuous minting activity by Circle on Solana is seen as a driver for potential growth and increased activity within the Solana ecosystem.