Over the past week, Circle has pumped nearly $1 billion into the Solana ecosystem. Circle issued $250 million of its USDC stablecoin on Solana (SOL). USDC is currently the largest stablecoin in the SOL ecosystem. 😮

On Wednesday, Circle released approximately $750 million worth of new USDC coins on SOL in seven days. This increased the supply of USDC on the main L1 blockchain by more than 10%.

Following this, Solana's Total Value Locked (TVL) increased by 0.4%. This could lead to higher prices for meme coins and the native Solana token.