Circle minted $500 million in USDC on Solana, marking a significant milestone as the network processed $3.25 billion in USDC supply within a week. This surge is indicative of Solana's growing role in the stablecoin market, as it approaches a 10% share of total USDC supply, traditionally dominated by Ethereum.
Polymarket's new collateral token, Polymarket USD, is designed specifically for the platform, functioning like a wrapped stablecoin and backed 1:1 by USDC. This change eliminates reliance on Polygon's bridged USDC.e, allowing Polymarket to have direct control over its prediction market outcome tokens.