New $250M USDC Minting on Solana: Is a 10% Surge in SOL Prices Next?

Circle, in a positive development, has minted an additional $250 million USDC stablecoin on the Solana blockchain. This move comes as Solana continues to gain acclaim in the cryptocurrency ecosystem. The minting took place on March 17, 2025, and is part of an effort to enhance USDC liquidity across multiple blockchains. The mint comes alongside the new Solana ETF launch. With this latest resupply, Circle’s total USDC stablecoin supply on Solana has reached $10.25 billion. This surge in supply indicates the increasing popularity of stablecoins for fast, pocket-friendly transactions, as well as growing market confidence in Solana’s blockchain technology.  

This development comes just after the Solana ETF launch, the first-ever futures exchange-traded funds (ETFs) based on Solana in the United States. Volatility Shares LLC will be managing these ETFs. The two new ETFs, SOLZ (standard exposure) and SOLT (2x Leveraged Exposure) offer investors new avenues to play around Solana’s price movements. By giving institutions access to Solana via traditional investment methods, these ETFs are expected to bolster further adoption of Solana. 

Solana’s increasing popularity in decentralized finance and payment systems has attracted digital asset giants like Circle. The fintech company has placed confidence in Solana’s long-term growth potential and scalability by minting this volume of USDC stablecoin on its network. As stablecoins like USDC become more important to the global digital asset industry, further expansion on high-performance blockchains like Solana is bound to continue shaping the future for cryptocurrencies. 

Solana Price Analysis of the Last 24 Hours 

Following Solana’s recent feature on Circle, positive movement has been observed on the price chart. The day started at $125.5, as the slight upward momentum from the previous day took SOL to $123. However, the RSI indicator showed almost overbought levels, as a price correction was signalled. A brief downtrend followed, taking SOL to $124.1 by 02:45 UTC. As selling pressure neared oversold levels, a golden cross formed on the MACD, and a brief uptrend was initiated, leading SOL to find resistance at $126.8. A narrow trading range formed as SOL waited for a breakout. The breakout eventually occurred at 10:30 UTC. Half an hour later, a notable golden cross emerged as the price spiked upward, finding resistance at $129.1 temporarily. 

Chart 1: analyzed by raodevansh18, Published on TradingView, March 20, 2025

The price faced a brief decline before the next positive movement, which occurred in the form of a momentous spike as SOL went from $127.5 at 12:45 UTC to $132.7 at 14:00 UTC. Buying pressure soon reached saturation, and a downtrend commenced. The downtrend, by 18:45 UTC, had taken SOL to $130.2. At this point, another golden cross on the MACD signalled a price hike, and another skyward spike was seen as Solana traded at $134.1. As overbought conditions faded out, the price declined as well, but favorable activity on the MACD led SOL to continue finding the $134 level time and again. The support trendline kept rising as a bullish triangle was observed and an upward breakout was on the cards. Surely, an uptrend followed, leading SOL to find its 24H high at $136. Selling pressure soon increased, and the SOL price was brought back to $132 price, and it continued to fluctuate around that mark.

SOL Price Prediction: What Does March 20 Hold for Investors?

Solana’s price performance in the last 24 hours has been impressive. However, as the SOL price vies to get back to $150+ levels, the coming few days are going to be important. Solana was last spotted battling the $136 resistance, which had caused problems a few days ago as well. To cross that barrier, SOL will need sustained bullish momentum. For now, the trading range may have a negative breakout, as a death cross on the MACD seems to be on the cards.