Solana's Price Breaks Above Descending Channel as USDC Mint Injects Fresh Buying Momentum

Solana's price has surged to $78 after a 250 million USDC mint on its network combined with softer U.S. inflation data sparked fresh buying momentum across crypto markets.

The move gathered pace after the USDC Treasury minted 250 million USDC on Solana, adding immediate liquidity to the ecosystem as traders returned to risk assets following the latest U.S. inflation print.

Rising active addresses and institutional developments have also supported the upside, with technical charts showing a breakout above a descending channel.

The daily chart shows Solana price holding above a long-standing support area between $70 and $75 after repeatedly defending that range over recent weeks.