💵 $500 million minted in 14 minutes! Circle issues more USDC on Solana, loading up before midterm election results
1️⃣ On-chain: At 06:07 and 06:21 Taipei time this morning, the USDC issuer minted 250,000,000 USDC in two consecutive transactions on Solana, for a total of $500 million in 14 minutes. We verified each amount and timestamp on the Solana blockchain. Against a backdrop of stablecoin market capitalization shrinking over the past month, the fresh inflow of dollars is a sign that liquidity is recovering.
2️⃣ Whale activity: Whale Alert also tracked 33,000 ETH (about $75.6 million) moving from Coinbase Institutional to an unknown wallet. The on-chain amount has been verified. When large holders withdraw coins from exchanges, it usually indicates they plan to hold rather than sell.
3️⃣ KOL sentiment: Michaël van de Poppe said, “A phenomenal response from the lows on #Bitcoin,” and reiterated his main view that Bitcoin is forming a bottom around these levels. He noted that midterm election results are imminent and that Scott Bessent may inject more liquidity into the market. Ash Crypto also posted, “Bitcoin is back above $78,000.”
4️⃣ Market update: $BTC 24-hour period briefly saw prices surge to around $78,000. They’re currently around $77,400, with a 24-hour low of about $76,400; support is holding firm. $ETH is around $2,275, up about 1% over 24 hours.
💬 With $500 million in fresh buying power, do you think it’ll go to BTC or ETH first? Tell us in the comments 👇
#BTC #ETH
$BTC $ETH
1️⃣ On-chain: At 06:07 and 06:21 Taipei time this morning, the USDC issuer minted 250,000,000 USDC in two consecutive transactions on Solana, for a total of $500 million in 14 minutes. We verified each amount and timestamp on the Solana blockchain. Against a backdrop of stablecoin market capitalization shrinking over the past month, the fresh inflow of dollars is a sign that liquidity is recovering.
2️⃣ Whale activity: Whale Alert also tracked 33,000 ETH (about $75.6 million) moving from Coinbase Institutional to an unknown wallet. The on-chain amount has been verified. When large holders withdraw coins from exchanges, it usually indicates they plan to hold rather than sell.
3️⃣ KOL sentiment: Michaël van de Poppe said, “A phenomenal response from the lows on #Bitcoin,” and reiterated his main view that Bitcoin is forming a bottom around these levels. He noted that midterm election results are imminent and that Scott Bessent may inject more liquidity into the market. Ash Crypto also posted, “Bitcoin is back above $78,000.”
4️⃣ Market update: $BTC 24-hour period briefly saw prices surge to around $78,000. They’re currently around $77,400, with a 24-hour low of about $76,400; support is holding firm. $ETH is around $2,275, up about 1% over 24 hours.
💬 With $500 million in fresh buying power, do you think it’ll go to BTC or ETH first? Tell us in the comments 👇
#BTC #ETH
$BTC $ETH
