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Solana’s network continues to see massive growth. It seems that this is not only influenced by just NFTs. The total amount of USDC that circulates on Solana is now up to $2.5 billion.
Notably, Solana explorer’s data shows that the current supply of USDC on the network is up to $2.5 billion.
Furthermore, the Co-Founder and CEO at Circle, the company behind the dollar-pegged stablecoin, Jeremy Allaire, say that the
“USDC on Solana jumped from 1B to 2B in circulation” within one week.
Meanwhile, Allaire added that the effort to put USDC on Solana is part of their goal to introduce “Multichain USDC.
This will form a partnerships with a number of important chains. However, they considered Solana to be the first to reach out to because of “the scale, speed, and cost-efficiency the chain has to offer to USDC.”
Related Post – Solana (SOL) Overtakes XRP On The Cryptocurrency Ranking
Additionally, Many developments are affecting the Solana’s surge and New all times highs. Notably, The growing number of USDC in circulation has a major impact on the price of SOL.
Currently, SOL is up over 500% since the past 12 months, with its price recently touching a new all-time high above $200.