Solana Sees Record-Staking Stablecoin Minting by Circle

Circle's September stablecoin minting on Solana has set a new record. The company minted approximately 13.50 billion USDC in the month, the largest monthly figure ever recorded on the network.

The mints were not one-time events but rather frequent batches throughout the month, often in tranches of $250 million and occasionally reaching $500 million in short intervals.

One notable stretch came early in the month when Circle minted $3 billion of USDC within a 24-hour window. Many of these transactions were flagged by Whale Alert.

The gross-versus-net distinction is key to understanding this record. Gross minting measures how much USDC was created, not how much new USDC is actually floating around in wallets and apps.