- The Solana network minted $250,000,000 USDC.
- SOL prices continued to rise as the sentiment surged.
Recently, there has been a rise in the number of terrorist attacks. Solana [SOL] The network is witnessing the minting significant amounts USD Coin [USDC].
Circle has created USDC in total worth $250,000,000 on the Solana system over the past couple of days.
Need for Stablecoin
It is expected that the minting of 250 million USDCs on the Solana Blockchain will have an impact on ecosystem.
Circle’s recent decision to sell USDCs in large quantities on Solana is a positive contribution to the liquidity of the entire network.
It is vital that the decentralized financial applications, and decentralized exchanges on Solana operate efficiently and effectively.
It is possible that the integration of USDC with Solana will attract a wider user base and facilitate easier onboarding, both for retail players as well as institutional ones.
The dynamics of the trading pairs on decentralized markets, especially SOL/USDC may change, which could influence market behaviour.
USDC is likely to be a major factor in the growth of the decentralized exchange volume (DEX), fueled partly by the popularity of memes.
As of the press release date, daily DEX volumes had reached $2.5 billion. TVL also grew during this time, surpassing $3 billion at the time of press.
SOL prices are rising.
SOL’s price was $148.96. It had increased by 0.47% over the past 24 hours, and has been steadily increasing for the last one month.
In the last few months, both the social volume and the weighted feeling around the Solana networks have remained stable.
The positives outnumbered the negativities by a significant margin. This increase in positivity can help to move the price of SOL in the future.
What is the cost? 1,10,100 SOLs worth today?
The Solana development network has seen a noticeable increase of activity during this period.
SOL’s growth trajectory could be enhanced by increased participation in developing and enhancing blockchain-based projects.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com