Squads announces a strategic partnership with Coinbase to accelerate USDC adoption, having custody of over 1 billion USDC, accounting for 15% of Solana's total supply.

This partnership comes at a timely moment, as USDC is set as the default stablecoin, and the DeFi ecosystem is about to explode.

Yesterday, USDC Treasury minted 250 million new tokens, with a noticeable influx of funds.

I see this correlates with the record high of $35.5 billion in ETH futures open interest, the leveraged market is heating up, but whales are shorting BTC/ETH/SOL with $3.36 million, which poses significant risk.

The stablecoin expansion is projected to grow 8 times by August 2028, Standard Chartered's forecast is reliable, and it is recommended to increase USDC positions to hedge against September interest rate cut volatility.