Circle minted $112B USDC on Solana in 2026, nearly doubling 2025's total of $56.25B across 448 transactions.
DeFi & Yields ·
Circle has minted $112.01 billion USDC on Solana through October 26, 2026, marking a substantial acceleration from the prior year. The 448 transactions recorded during this period represent nearly double the $56.25 billion and 225 transactions completed throughout 2025. On-chain data shows that September emerged as the highest-volume month at $13.5 billion across 54 transactions, with October tracking similarly at $13.25 billion to date—levels that outpace 2025's strongest month of approximately $8.25 billion in November. Individual transactions have consistently clustered around $250 million in size.
The gross minting totals reflect increased frequency through Circle's tracked Solana mint address rather than direct evidence of expanded circulating supply. Newly issued USDC can be redeemed, burned, or allocated to treasury and liquidity management, meaning the $112.01 billion figure does not translate directly to net supply growth. Complete assessment of actual outstanding USDC on Solana would require accounting for redemptions, burns, and changes in total circulating volume across the network.
With roughly two months remaining in 2026, the tracked address has already surpassed 2025's annual issuance by 99.1 percent. Every month of 2026 has exceeded the prior year's peak, establishing an elevated operational pace, though whether this momentum sustains through year-end remains uncertain.