The activity of stablecoins on the Solana chain continues to heat up. According to on-chain data monitoring, Circle minted an additional 1 billion USDC on the Solana network in the past 9 hours, reflecting active expansion of stablecoin supply. More notably, within the past 11-hour window, the two major stablecoin giants, Circle and Tether, collectively minted $2 billion worth of USDC and USDT. This pace of minting usually indicates an active upgrade in on-chain trading activity, which may be related to market fund flow adjustments, large transaction demands, or the expansion of application scenarios within the ecosystem. As the liquidity foundation of the crypto market, stablecoin minting dynamics often indirectly reflect market participants' trading intentions and changes in risk appetite.