在一系列新铸币之后，USDC 成为 Solana (SOL) 上增长最快的资产

在过去一周一系列新的 USDC 铸币之后，Solana (SOL) 的稳定币流动性水平更高。

Solana (SOL) is seeing a higher level of stablecoin liquidity after a series of new USDC mints in the past week. In the last 24 hours, Solana added another 1 billion new tokens, while the mints have reached 2.5 billion new tokens in a matter of weeks.

在过去一周推出一系列新的 USDC 铸币之后，Solana (SOL) 的稳定币流动性水平更高。在过去 24 小时内，Solana 又增加了 10 亿个新代币，而造币厂在几周内就增加了 25 亿个新代币。

USDC’s growth started at the end of 2024 in response to tougher regulatory conditions for Tether (USDT) in the Euro Area. The specific mints on Solana follow a pattern of decentralized activity and demand for concentrated liquidity.

USDC 的增长始于 2024 年底，以应对欧元区 Tether (USDT) 更严格的监管条件。 Solana 上的特定铸币厂遵循去中心化活动和集中流动性需求的模式。

Some of the recently minted USDC was transferred to Coinbase, which also became a hotspot for SOL and meme token trading.

最近铸造的部分 USDC 被转移到 Coinbase，这也成为 SOL 和 meme 代币交易的热点。

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨

🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨

800,000,000 #USDC (799,998,000 USD) transferred from USDC Treasury to #Coinbase

800,000,000 #USDC（799,998,000 美元）从 USDC Treasury 转移到#Coinbase

https://t.co/P83POIAsku

— Whale Alert (@whale_alert) January 21, 2025

— 鲸鱼警报 (@whale_alert) 2025 年 1 月 21 日

USDC was spreading gradually to Solana, in a long-running trend that boosted stablecoin liquidity above $10 billion. The growth of new stablecoin inflows went vertical in the past week, adding to Solana’s total value locked. Currently, the chain carries peak liquidity, breaking the record from 2021. Most of the renewed decentralized finance (DeFi) activity on Solana was on decentralized exchanges (DEXes), with some of the stablecoins flowing into DeFi protocols.

USDC 逐渐向 Solana 蔓延，这一长期趋势将稳定币的流动性提升至 100 亿美元以上。过去一周，新的稳定币流入量呈垂直增长，增加了 Solana 的锁定总价值。目前，该链的流动性达到峰值，打破了 2021 年以来的记录。Solana 上大部分新的去中心化金融 (DeFi) 活动都发生在去中心化交易所 (DEX) 上，其中一些稳定币流入 DeFi 协议。

The expansion of USDC comes at a time when stablecoins are constantly setting new records. The total supply of all asset-backed and synthetic tokens is over 209 billion, with targeted liquidity on some exchanges and pairs.

USDC 的扩张正值稳定币不断创下新纪录之际。所有资产支持代币和合成代币的总供应量超过 2090 亿枚，在一些交易所和货币对上具有针对性的流动性。

However, not all Solana users had a positive experience with the increased liquidity. USDC may be intuitive and transparent, but Solana congestion and failed transactions make the asset unusable. Users complained of delayed transactions and a long waiting time, which meant they missed some of the rallies of the newly launched meme tokens.

然而，并非所有 Solana 用户都对流动性的增加有积极的体验。 USDC 可能直观且透明，但 Solana 拥塞和交易失败导致资产无法使用。用户抱怨交易延迟和等待时间过长，这意味着他们错过了新推出的 meme 代币的一些反弹。

The other criticism is that USDC is used to extract value from Solana, with the tokens and memes abandoned on the network after their peak.

另一个批评是 USDC 被用来从 Solana 中获取价值，而代币和表情包在高峰期后就被遗弃在网络上。

USDC becomes the fastest-growing asset

USDC 成为增长最快的资产

USDC expanded its supply to over 51 billion tokens after months of being stuck near the 30 billion range. In the past 30 days, it added a net of 959.4 million tokens, shifting the balance of flows. For now, it has a slower daily turnover, with volumes of $17 billion, a fraction of the Circle-issued stablecoin’s total supply.

在数月陷入 300 亿枚范围附近之后，USDC 将其供应量扩大至超过 510 亿枚。在过去 30 天里，它净增加了 9.594 亿个代币，改变了流量平衡。目前，它的日交易量较慢，交易量为 170 亿美元，仅占 Circle 发行的稳定币总供应量的一小部分。

Notably, while USDC was burned on other networks, it had a long series of non-stop mints on Solana. The mints were for equal tranches of 250 million tokens, suggesting either aggregated demand or institutional clients. The stablecoin is considered a fully asset-backed token, in which the new mints only follow fiat deposits.

值得注意的是，虽然 USDC 在其他网络上被销毁，但它在 Solana 上却有一系列不间断的铸币。这些铸币厂均等量发行 2.5 亿枚代币，这表明要么是总体需求，要么是机构客户。稳定币被认为是一种完全由资产支持的代币，其中新铸币仅遵循法定存款。

The large-scale inflow of funds on Solana points to professional or institutional investors, who are preparing for more active trading. USDC is seen as a more suitable tool to retain gains from trading, increasing the possibility for stablecoin pairs. It also trades at a slight premium on Solana, despite the active printing.

Solana 上的资金大规模流入表明专业或机构投资者正在为更活跃的交易做准备。 USDC 被视为更适合保留交易收益的工具，增加了稳定币对的可能性。尽管印刷活跃，但它的交易价格也比 Solana 略有溢价。

Most Solana trades and stablecoin usage are still microtransactions. However, USDC is held by large-scale whales and concentrates on some of the centralized exchanges and highly liquid DEXes.

大多数 Solana 交易和稳定币使用仍然是微交易。而USDC则由大规模鲸鱼持有，且集中在一些中心化交易所和流动性较高的DEX上。

The inflow of USDC followed the growth of value locked on Kamino, adding new assets for lending during a period of active DEX trades.

USDC 的流入跟随 Kamino 锁定价值的增长，在 DEX 交易活跃期间增加了新的借贷资产。

USDC flows in ahead of Solana ETF decision

USDC 在 Solana ETF 决定之前流入

The minting activity accelerated ahead of the two deadlines for Solana’s latest ETF filings. As of January 23, a decision may come for the Grayscale ETF proposal. Two days later, a decision will be made for the funds proposed by VanEck, 21Shares, Bitwise, and Canary.

在 Solana 最新 ETF 申请的两个截止日期之前，铸币活动加速。截至 1 月 23 日，灰度 ETF 提案可能会做出决定。两天后，将对 VanEck、21Shares、Bitwise 和 Canary 提议的基金做出决定。

The inflow of stablecoins may boost the underlying Layer 1 (L1) asset. SOL has been considered undervalued, based on its on-chain economic activity and recent peak usage.

稳定币的流入可能会提振底层 1 (L1) 资产。基于 SOL 的链上经济活动和最近的高峰使用量，SOL 被认为被低估。

Bitwise remains the most bullish potential ETF issuer, envisioning prices of over $6,000 in the coming years. SOL is expected to take up a trajectory similar to ETH, as it displaced the Ethereum chain as the leading venue for new token launches.

Bitwise 仍然是最看好的潜在 ETF 发行人，预计未来几年价格将超过 6,000 美元。 SOL 预计将采取与 ETH 类似的发展轨迹，因为它取代了以太坊链，成为新代币发行的主要场所。

After the inflow of USDC, SOL recovered to $253.12, though still far from the recently predicted rally to $300.

USDC 流入后，SOL 恢复至 253.12 美元，但距离近期预测的 300 美元涨幅仍相去甚远。