A significant blockchain event unfolded on the Solana network after Arkham Intelligence detected $500 million in USDC minted by leading stablecoin issuer Circle. Two separate 250 million USDC transactions appeared within minutes, moving between Circle-linked wallets in what analysts described as operational liquidity movements rather than market-driven transfers.
Circle recently executed another $500 million USDC mint on Solana, pushing the combined fresh stablecoin issuance by Circle and Tether above $15 billion since the October 11 market downturn. Despite being internal, the scale of liquidity movement has revived attention around Solana’s role in institutional settlement.
Market pressure, however, has not fully subsided. Pump.fun moved 436.5 million USDC into Kraken, adding short-term headwinds for Solana-linked assets. Yet SOL recovered sharply at the start of the week. It climbed from Friday’s $121.50 low to nearly $138, marking a 14% rebound. The token remains 30% lower over the past month, but its quick reversal hints at shifting momentum. At press time, SOL is up 2.4% over the past 24 hours and 5.97% over the past week.
ETF Demand Builds as Solana Tests Key Technical Levels
Activity on Solana has increased as Spot Solana ETFs have now secured 20 consecutive days of inflows, maintaining one of the strongest streaks among newly launched digital-asset funds. Farside data shows $53.1 million entering the products on Monday, with Bitwise’s BSOL contributing $31 million. Total inflows have reached $599.1 million since late October.
Analysts argue that consistent allocations during a weak market underscore growing institutional conviction. LVRG Research’s Nick Ruck said the ETFs have outperformed expectations set before launch, noting that institutional demand has broadened Solana’s appeal beyond speculative trading. He added that the persistent inflows signal Solana’s advancement into a category often reserved for established blue-chip assets.
Meanwhile, the SOL price structure is tightening. The token has held support along the lower boundary of a wedge formation, encouraging traders to watch the upper resistance near $145. A confirmed breakout would shift sentiment and potentially lift SOL toward $150. Analyst Daan Crypto highlighted that Solana sits on a critical high-timeframe support area, reinforced by two years of trading activity around $145.
Evans Kelvin
The CoinRemark Team
