OKX will suspend USDC deposits and withdrawals on the Solana network on July 14 at 14:30 UTC+8 while completing scheduled wallet maintenance. According to the exchange's notice published on July 13, the suspension affects only Solana-based USDC transactions, with no impact on other USDC networks or trading services. The maintenance window will resume after completion without a separate announcement, though OKX did not provide a fixed completion time. The maintenance is described as an exchange-level update that does not indicate any issues with the Solana network or USDC itself.
Trading for related assets will continue during the maintenance period, as reported by OKX. Users who already hold USDC in their accounts do not need to take any action, and the exchange specifically advised against sending or withdrawing Solana-based USDC after the maintenance window opens. OKX warned that transfers made during the pause could create a risk of lost funds, recommending users allow time for blockchain confirmations before the cutoff to avoid delays. The exchange emphasized that this is purely an exchange-level update and does not reflect any problems with the underlying Solana network or USDC protocol.
USDC on Solana represents Circle's native dollar-backed stablecoin rather than a wrapped token, with Circle directly issuing USDC on this network. As reported by crypto.news, Circle minted more than $10.5 billion in USDC on Solana within roughly one month, with approximately $650 billion in Solana stablecoin settlement volume during February. Despite this significant usage, OKX's maintenance pause does not indicate higher network usage levels, and Solana remains a major USDC settlement network. Recent developments show Circle has just issued an additional 250 million USDC on the Solana network, highlighting continued growth in the ecosystem.
The maintenance affects only Solana-based USDC transactions, with other supported USDC networks not included in the notice. OKX advised traders to consider risks in margin and derivatives markets and add margin early where needed, particularly for users moving USDC through Solana to fund positions. The exchange did not explain whether pending transactions submitted before the cutoff could face delays, and users should rely on the options shown in their accounts for deposit network availability. Users are specifically advised not to send or withdraw Solana USDC during this period to avoid potential fund loss.
Solana has achieved a significant milestone by crossing epoch 1,000, marking the finalization of 432,000 slots on the network and highlighting over 5.5 years of Solana's operational history. As reported by Wu Blockchain, this milestone represents 120.5 billion total non-vote transactions, $4.3 trillion traded on Solana DEXes, and $193.5 trillion in stablecoins transferred on Solana rails. The network has maintained 2 years and 154 days of 100% availability, with over 7.4 million commits on Git repositories and 78,000 unique developers building on the platform. Additionally, Japanese financial giant SBI Holdings and the Solana Foundation have announced a strategic partnership to develop Japan-originated onchain financial markets, focusing on JPY stablecoins and tokenized real-world assets.
