Solana saw roughly $900M worth of stablecoins flow in during early January, predominantly USDC. On the surface that's a significant number, but the reality is more mundane—Circle routinely mints between $250–500M every few days as part of standard operational activities. When you look at the volume and frequency of their regular minting patterns, this flow reads like typical stablecoin rail activity rather than any meaningful market signal worth getting excited about. Just the usual machinery keeping liquidity flowing across the network.