According to reports, Circle has minted approximately 168 million USDC on the Ethereum network. Etherscan data shows the transaction was successfully confirmed. Earlier today at 00:17, 250 million USDC was minted on the Solana network. Together, the two mints add up to nearly $420 million in new supply. I think this looks more like exchanges or market makers replenishing on-chain liquidity and stocking up for upcoming market volatility than a straightforward bullish signal. USDC issuance is neutral in itself: the funds may go to exchanges to buy more, or simply be held while waiting to exit. You can’t determine the direction from the amount minted alone.
Looking at the current market, as of 03:00 the broader market was down 2.5% over 24 hours, while $BTC rose 0.8% against the trend, with a 59.2% market share. This suggests funds are still concentrating in defensive assets. $ETH is currently at 2,510, with a daily RSI14 of just 44 and trading between the MA7 and MA25. It is down 7.0% over the past seven days. If the newly issued USDC does flow into the market at these levels, it will most likely go toward defensive assets first rather than chasing a rally. $SOL is currently at 107.9, with an RSI14 of 43. It is only at the 41st percentile of its 30-day range, and its four-hour trading volume is 1.5 times the seven-day average. Volume is up, but the price hasn’t followed. This divergence will be more interesting to watch.
Where my view might be wrong: USDC issuance is often just part of an exchange’s routine reserves and isn’t necessarily connected to what happens next in the market. Don’t read it as a directional signal; it’s better viewed as an indicator of liquidity reserves.
#USDC增发 #Cryptocurrency
Looking at the current market, as of 03:00 the broader market was down 2.5% over 24 hours, while $BTC rose 0.8% against the trend, with a 59.2% market share. This suggests funds are still concentrating in defensive assets. $ETH is currently at 2,510, with a daily RSI14 of just 44 and trading between the MA7 and MA25. It is down 7.0% over the past seven days. If the newly issued USDC does flow into the market at these levels, it will most likely go toward defensive assets first rather than chasing a rally. $SOL is currently at 107.9, with an RSI14 of 43. It is only at the 41st percentile of its 30-day range, and its four-hour trading volume is 1.5 times the seven-day average. Volume is up, but the price hasn’t followed. This divergence will be more interesting to watch.
Where my view might be wrong: USDC issuance is often just part of an exchange’s routine reserves and isn’t necessarily connected to what happens next in the market. Don’t read it as a directional signal; it’s better viewed as an indicator of liquidity reserves.
#USDC增发 #Cryptocurrency