Circle has minted 500 million USDC on Solana, bringing the total issuance on its network to 1.2 billion USDC in September. This increase aims to enhance liquidity and accessibility for Solana users, supporting faster transaction speeds and lower fees in DeFi. Meanwhile, the decentralized exchange Hyperliquid, with a total value locked of 700 million USD (TVL), is considering launching its own stablecoin USDH, which could challenge USDC's dominance by sharing profits with the community. Competing issuers like Paxos and Ethena Labs are racing to offer high returns for HYPE holders, generating potential annual earnings of over 1 billion USD. This intensifies the competition among major players like Stripe and Tether for dominance in payment channels, signaling a broader shift in global financial infrastructure.

SOL2.28%
DEFI1.63%
HYPE4.36%
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