Circle expands USDC issuance across Algorand and Solana networks

Circle, the issuer of the USDC stablecoin, has seen significant activity across multiple blockchain networks. On the Algorand network, the stablecoin supply has climbed back above $100 million, reaching approximately $100.4 million. This represents a 6.8% rise over the past week, with USDC accounting for 98.6% of the total stablecoin supply on the chain.

Simultaneously, Circle has minted approximately 750 million USDC on the Solana blockchain within a 24-hour period. Solana serves as Circle’s second-largest network for USDC. While the large minting volume suggests a potential increase in liquidity for the Solana network, it remains unclear if these tokens have entered general circulation or reached exchange platforms.