Circle Minted an Additional $250M USDC Stablecoin on Solana Blockchain, Targeting New Market Participants

By giving institutions access to Solana via traditional investment methods, these ETFs are expected to bolster further adoption of Solana.

Circle has minted an additional $250 million USDC on the Solana blockchain in a positive development. This top-up to the treasury comes as Solana continues to gain popularity in the cryptocurrency ecosystem. The minting took place on March 17, 2025, and is part of an effort to increase USDC liquidity for efficient and rapid transactions. It also comes alongside the new Solana ETF launch.

With this latest resupply, Circle’s total USDC stablecoin supply on Solana has now reached $10.25 billion. This surge in liquidity showcases the increasing use of stablecoins like USDC for swift transactions, along with the growing market confidence in Solana’s blockchain technology for facilitating these transfers.

This development comes shortly after the launch of the first-ever futures exchange-traded funds (ETFs) based on Solana in the United States. These ETFs will be managed by Volatility Shares LLC, which is known for its expertise in managing volatile investment products. The two new ETFs, SOLZ (standard exposure) and SOLT (2x Leveraged Exposure) provide investors with unique opportunities to participate in Solana’s price movements.

These ETFs are expected to facilitate further adoption of Solana by giving institutions access to the cryptocurrency through traditional investment methods. Moreover, the launch of these ETFs is a testament to the growing demand for innovative and diverse investment products in today’s market.

Solana’s increasing popularity in decentralized finance and payment systems has led digital asset giants like Circle to place confidence in the long-term growth potential and scalability of the blockchain. With this new volume of USDC being minted on Solana, it is clear that the fintech company is a firm believer in the cryptocurrency’s ability to revolutionize the financial industry.

As stablecoins like USDC become even more integral to the global digital asset industry, we can expect to see further expansion of these coins on high-performance blockchains like Solana. This ongoing development will undoubtedly continue to shape the future for cryptocurrencies in the years to come.

Solana Price Analysis of the Last 24 Hours

Following Solana’s recent feature on Circle, we can observe some positive movements on the price chart. The day began at $125.5, as the slight upward momentum from the previous day took SOL to $123. However, the RSI indicator already showed almost overbought levels, as a price correction was signalled.

A brief downtrend followed, taking SOL to $124.1 by 02:45 UTC. As selling pressure neared oversold levels, we saw a golden cross forming on the MACD, and a brief uptrend was initiated, leading SOL to find resistance at $126.8. A narrow trading range formed as SOL waited for a breakout. The breakout eventually occurred at 10:30 UTC.

Half an hour later, we observed a notable golden cross emerge as the price spiked upward, finding resistance at $129.1. The price then faced a brief decline before the next positive movement, which occurred in the form of a momentous spike as SOL went from $127.5 at 12:45 UTC to $132.7 at 14:00 UTC.

This rapid surge in price was brought on by an outburst of buying volume, which quickly pushed the RSI into overbought conditions. However, the overbought levels were short-lived as the price faced immediate resistance at the $129.1 level, shortly after the spike commenced.

As buying pressure reached saturation, a downtrend began. By 18:45 UTC, this downtrend had taken SOL to $130.2. At this point, another golden cross on the MACD signalled an impending price hike, and another skyward spike was seen as Solana traded at $134.1.

As overbought conditions began to fade out, the price was observed to decline. Nonetheless, favorable activity on the MACD led SOL to continue finding the $134 level time and again. The support trendline was seen to be rising continually as a bullish triangle was being formed and an upward breakout was on the cards.

An uptrend followed, leading SOL to find its 24H high at $136. However, as sellers emerged, the price was brought back to the $132 price level, and it continues to fluctuate around that mark.

Solana Price Prediction: What Does March 20 Hold for Investors?

Solana’s price performance in the last 24 hours has been impressive, to say the least. The crypto behemoth is showing no signs of slowing down.

However, as the SOL price vamps up to get back to $150+ levels, the coming few days are going to be important. Solana was last spotted battling the $136 resistance, which had caused problems a few days ago.

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