Circle mints $500M USDC on Solana, weekly total hits $3.2B

Circle minted approximately $500 million USDC on Solana in 40 minutes, pushing the weekly total to a record $3.25 billion. The Polymarket contract for Solana reaching $150 by April sits at 0% YES.

This is the largest single-week stablecoin issuance on Solana this year. The surge follows recent U.S. regulatory clarity classifying Solana as a digital commodity, which has increased liquidity inflows. Solana’s price still hovers between $78-$85, and odds for hitting $150 in April remain at 0% YES. The April 13-19 market shows the same at 0% YES.

Circle’s minting indicates increased network activity and liquidity, which could support bullish sentiment. But Solana’s price remains weighed down by factors including a recent Drift protocol exploit that caused $1 billion in losses. The stablecoin inflow alone hasn’t moved the market’s pricing of higher targets.

For Solana to reach $150, traders would need to see more than liquidity. A breakout above $89 resistance, sustained buying pressure, and positive macro shifts are all necessary. At current odds, buying YES shares at 0¢ offers a infinite return, though this is a high-risk bet given how the market is pricing Solana right now.

Watch for further regulatory developments, major exchange announcements, or substantial shifts in macroeconomic conditions that could change Solana’s price trajectory.

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