Circle minted $2.75 billion in USDC on Solana in 7 days. Stablecoin demand surged, but BTCUSDT fell 0.11% this week, COINUSDT rose 0.99%, MSTRUSDT fell 0.3%, and HOODUSDT fell 0.54%. There was plenty of buzz, but prices didn’t move in lockstep. That’s the first thing to understand.
This week, from 2026-09-28 to 2026-10-05, I cross-checked four trading pairs using Binance’s official API. On 10-01, MSTRUSDT rose from 153.43 to 161.22, gaining 5.08%—the strongest daily performance of the four. On 10-04, all four trading pairs closed higher: BTCUSDT rose 2.09%, COINUSDT 1.41%, MSTRUSDT 0.89%, and HOODUSDT 1.07%. But over the full week, BTCUSDT closed at 86383.8, COINUSDT at 188.7, MSTRUSDT at 164.35, and HOODUSDT at 114.01. Their directions weren’t consistent.
Popular posts on the plaza argued that the surge in minting shows money is flowing in, benefiting the crypto market and stablecoin-related stocks (paraphrased; this does not represent this site’s views). My take: minting doesn’t equal buying. USDC can change hands many times on-chain without entering any trading pair, and this week’s divergence among the four trading pairs is evidence of that. In a 200-week sample for BTCUSDT, 104 weeks performed better than this week; for COINUSDT, 14 of 35 weeks did; for MSTRUSDT, 18 of 35 weeks did; and for HOODUSDT, 13 of 36 weeks did. This week wasn’t particularly remarkable for any of them.
The honest truth: calling something the best week is a judgment made in hindsight. In the week of 2026-08-17, BTCUSDT rose 23.61% and MSTRUSDT rose 28.64%—but at the time, nobody knew it was a strong week. The default contract maker fee is 0.02% and the taker fee is 0.05%. After a 20% rebate, the effective maker fee is 0.016% and the taker fee is 0.04%. Frequent trading can eat into the gains from volatility. #Circle mints $2.75 billion in USDC on Solana in 7 days
#币安 #手续费 $BTC $SOL
This week, from 2026-09-28 to 2026-10-05, I cross-checked four trading pairs using Binance’s official API. On 10-01, MSTRUSDT rose from 153.43 to 161.22, gaining 5.08%—the strongest daily performance of the four. On 10-04, all four trading pairs closed higher: BTCUSDT rose 2.09%, COINUSDT 1.41%, MSTRUSDT 0.89%, and HOODUSDT 1.07%. But over the full week, BTCUSDT closed at 86383.8, COINUSDT at 188.7, MSTRUSDT at 164.35, and HOODUSDT at 114.01. Their directions weren’t consistent.
Popular posts on the plaza argued that the surge in minting shows money is flowing in, benefiting the crypto market and stablecoin-related stocks (paraphrased; this does not represent this site’s views). My take: minting doesn’t equal buying. USDC can change hands many times on-chain without entering any trading pair, and this week’s divergence among the four trading pairs is evidence of that. In a 200-week sample for BTCUSDT, 104 weeks performed better than this week; for COINUSDT, 14 of 35 weeks did; for MSTRUSDT, 18 of 35 weeks did; and for HOODUSDT, 13 of 36 weeks did. This week wasn’t particularly remarkable for any of them.
The honest truth: calling something the best week is a judgment made in hindsight. In the week of 2026-08-17, BTCUSDT rose 23.61% and MSTRUSDT rose 28.64%—but at the time, nobody knew it was a strong week. The default contract maker fee is 0.02% and the taker fee is 0.05%. After a 20% rebate, the effective maker fee is 0.016% and the taker fee is 0.04%. Frequent trading can eat into the gains from volatility. #Circle mints $2.75 billion in USDC on Solana in 7 days
#币安 #手续费 $BTC $SOL