Circle Mints Over $10.5 Billion USDC on Solana in a Month

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Apr 10 2026

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Record Minting Volume: Circle minted over $10.5 billion worth of USDC on Solana in the past month, setting a new issuance record that underscores Solana's rise as a preferred chain for high-throughput dollar flows and DeFi activities.
Accelerating Growth Trend: Circle minted $550 million USDC on Solana within just 12 hours, indicating a daily issuance rate of $750 million in early April, reflecting the increasing demand within the Solana ecosystem.
Leading Stablecoin Transaction Volume: Solana processed approximately $650 billion in stablecoin transactions in February 2026, surpassing Ethereum for the first time, marking its dominance in stablecoin payments and trading, which has driven demand for USDC.
Liquidity Risk Considerations: The concentration of over $10.5 billion in USDC on a single chain within a month raises concerns about liquidity clustering and systemic risk, as a major technical or regulatory shock to Solana could directly impact on-chain dollar liquidity.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	49.968	58.384	68.008	76.424	86.048	94.464	104.088
Fibonacci	58.384	65.275	69.533	76.424	83.315	87.573	94.464

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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