Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»This technology will strengthen Solana (SOL)’s stablecoin liquidity.
TRADING NEWS

This technology will strengthen Solana (SOL)’s stablecoin liquidity.

By Crypto FlexsMarch 10, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
This technology will strengthen Solana (SOL)’s stablecoin liquidity.
Share
Facebook Twitter LinkedIn Pinterest Email

Stablecoin issuer Circle is boosting Solana’s liquidity by soon launching the Cross-Chain Transfer Protocol (CCTP) on the network.

The protocol allows users to burn and mint stablecoins and seamlessly transfer USDC across supported blockchain networks. CCTP operates on seven networks: Ethereum, Avalanche, Base, Noble, Arbitrum, OP Mainnet, and Polygon PoS.

CCTP Increases Solana Stablecoin Liquidity

Circle has released a pre-issuance address for CCTP to mint USDC on Solana ahead of launch on March 26th. This strategic move allows Circle to establish and maintain USDC balances on Solana. However, pre-made tokens will wait to be included in the circulating supply until official approval from Circle.

Austin Federa, Head of Strategy at Solana, noted that CCTP simplifies USDC stablecoin transfers from various networks to Solana. He also highlighted the protocol’s potential to foster innovations such as on-chain salaries and Solana accessibility for a variety of network users.

Meanwhile, Solana co-founder Anatoly Yakovenko echoed similar sentiments, adding that CCTP could serve as the perfect bridge for frictionless real-world assets (RWA).

“The CCTP is what I envision a frictionless RWA bridge to be. Circle continues to release amazing technologies that improve user experience and safety,” said Yakovenko.

Read more: 6 Best Platforms to Buy Solana (SOL) in 2024

USDC’s market capitalization increases. Source: TradingView

USDC, the second-largest stablecoin by market capitalization, saw its supply surge by 22%, reaching around $30 billion. This increase signals positive market sentiment that has driven the prices of Bitcoin and Ethereum to all-time highs.

Circle’s plan to enhance stablecoin liquidity on Solana coincides with the Solana Network’s emergence as a powerhouse in stablecoin trading. As of March 8, Solana’s USDC transfer volume exceeded USDT transfer volume on the Tron and Ethereum blockchains by more than $4 billion each.

Meanwhile, market observers attributed this commendable milestone to Solana’s vibrant DeFi sector. According to on-chain data from DeFiLlama, the total value of assets locked (TVL) on the network currently stands at $3.165 billion. This is double the $1.4 billion recorded in January.

Read More: Solana (SOL) Price Prediction 2024/2025/2030

This development also catalyzed Solana’s native SOL token to reach a two-year high of $150, despite being associated with past FTX outages and network outage issues.

disclaimer

All information contained on our website is published in good faith and for general information purposes only. Any action you take upon the information on our website is strictly at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NFT sales in August increased 2.78% in July 2025

September 1, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Four coins to be purchased as decisions for five branch XRP ETFs will be pushed until October.

August 30, 2025
Add A Comment

Comments are closed.

Recent Posts

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

InFocus Launches Digital Ventures Strategy With Mythos Group To Push Into Blockchain, AI And Bitcoin

September 1, 2025

WorldShards Announces Partnership With ByBit And TGE Date

September 1, 2025

EcoSync & CarbonCore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3

September 1, 2025

NFT sales in August increased 2.78% in July 2025

September 1, 2025

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025
Most Popular

BlackRock CEO Larry Fink said: "Very optimistic about Bitcoin’s long-term viability"

March 28, 2024

BlackRock CEO Larry Fink speaks of Bitcoin. "This is the asset class that protects you"

January 14, 2024

Ethereum price hits $3,000, but the uptrend isn’t over yet

February 21, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.