Stablecoin giant Circle has executed a massive cross-chain operation, burning $570 million worth of USDC on Ethereum and minting $250 million on the Solana network, according to on-chain data highlighted by Solana-focused news accounts.
🔄 What Happened?
$570,000,000 USDC burned on Ethereum
$250,000,000 USDC newly minted on Solana
This movement indicates a significant capital rotation from Ethereum to Solana, potentially signaling growing demand for USDC liquidity on Solana-based DeFi platforms and payment solutions.
💡 Why It Matters?
Shows rising confidence in Solana's speed, cost-efficiency, and ecosystem growth
May support liquidity needs for upcoming Solana-native protocols or events
Reinforces Circle’s cross-chain strategy for USDC adoption
With Solana gaining momentum in DeFi, NFTs, and real-world assets (RWA) adoption, large-scale moves like this could further shift the balance in the multichain stablecoin landscape. $SOL