Circle minted $250 million USDC on Solana, increasing stablecoin supply amid growing network usage.
Tether issued $1 billion USDT on Ethereum via Bitfinex’s MultiSig wallet in a single transaction.
Solana and Ethereum prices fell slightly following the mints, with SOL showing higher intraday volatility.
Stablecoin supply on public blockchains has grown significantly this week. On June 18, 2025, Circle and Tether minted a combined $1.25 billion in stablecoins on Solana and Ethereum. These transactions reflect continued issuance activity by both entities, reinforcing their positions in the stablecoin market.
Circle Mints $250 Million USDC on Solana
Circle completed a $250 million USDC mint on the Solana network. According to a post by Cointelegraph on X, the transaction was processed under signature 5JxDZQTbV… and recorded in block 347644152. The minting action was finalized with maximum confirmations and executed through Solana’s Token Program.
https://twitter.com/Cointelegraph/status/1935476162714652903
The USDC was directed to a Circle-controlled wallet. Signing authority was attributed to 42XHvUK5sik589HER81T8WJv5JwhJurfYKjCPwmb. This mint follows several other large USDC issuances on Solana this month, increasing the token’s circulating supply on that chain.
USDC activity on Solana continues to grow in 2025. Solana’s low transaction fees and high-speed throughput have supported Circle’s recent issuance efforts. The newly minted tokens are likely intended for market liquidity and operational support.
Tether Issues $1 Billion USDT on Ethereum
In a separate transaction on Ethereum, Tether minted 1 billion USDT on June 18, 2025. The transaction occurred at 08:40 UTC and was confirmed in block #22730234. According to data from Arkham, Ethereum’s on-chain record identifies the transaction hash as 0x17349fa81bff537e93ba8e4efc87c27678fddb8900858d15420873f477610bf2.
https://twitter.com/arkham/status/1935355673388142791
Bitfinex’s MultiSig wallet (0xC6C) initiated the mint, transferring the tokens to Tether’s Treasury address (0x575). No ETH was sent during the transaction. The recorded fee was 0.00009211294051572 ETH, equal to $0.23 at execution.
The process consumed 144,124 gas units out of the 220,000 limit, using a gas price of 0.6391 GWEI. This mint represents one of the largest USDT transactions on Ethereum in June 2025. No other token transfers were included in the same transaction. The issuance added notable supply to Ethereum-based USDT in a single movement. Tether’s minting activity has remained consistent this year, aligning with the broader stablecoin trend.
Solana/Ethereum Market Movement Revealed
Tracking the ongoing market trend between SOL and ETH as of press time, CoinMarketCap data indicates a varied market trend over time. Solana (SOL) traded at $145.25, down 1.69% over the past 24 hours. The market cap stood at $76.69 billion, reflecting a 1.66% decline. Trading volume reached $3.59 billion, falling 3.57% during the same period. The circulating supply is 527.99 million SOL out of a total supply of 603.43 million SOL.
Source: CoinMarketCap (SOL/ETH Comparative Chart)
Solana’s 24-hour volume-to-market cap ratio was 4.68%. At the same time, Ethereum (ETH) traded at $2,525.13, down 0.34% in 24 hours. Price movements for both assets followed a similar pattern during the observed period. Solana's market performance showed stronger intraday fluctuations compared to Ethereum.
