According to Odaily, the USDC Treasury has minted an additional 250 million USDC coins. This operation was conducted through the Solana network. The newly minted coins have an estimated value of approximately $250,325,000.
The minting process was monitored and reported by Whale Alert, a blockchain transaction tracking service. The operation took place at around 22:25 Beijing time.
The USDC Treasury's decision to mint additional coins is a significant event in the cryptocurrency market. It is worth noting that the USDC is a stablecoin, meaning its value is pegged to the US dollar. Therefore, the minting of additional coins does not necessarily lead to inflation within the cryptocurrency market.
The use of the Solana network for this operation is also noteworthy. Solana is known for its high-speed and low-cost transactions, making it a preferred choice for many operations within the cryptocurrency market. This event further highlights the growing influence of the Solana network in the digital currency space.