• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Solana Stablecoin Supply Hits $10 Billion Record, Boosted by USDC and Memecoins

user avatar

by A1

7 hours ago


The stablecoin supply on the Solana blockchain has reached an all-time high of $10 billion, spurred by USDC growth and memecoin enthusiasm.

Sharp Increase in Solana's Stablecoins

According to DeFiLlama data, the value of stablecoins in Solana has risen by 110% since January, from $5.1 billion to $10.8 billion. This marks Solana's rapid expansion in the stablecoin sector. By comparison, Ethereum dominates with $116 billion, while BNB Chain, Base, and Arbitrum follow with $7 billion, $3.8 billion, and $3.1 billion, respectively.

Impact of USDC and Memecoins on Growth

The primary driver of stablecoin growth on Solana is Circle's USD Coin (USDC), accounting for approximately 80% of Solana's stablecoin supply. This month alone, USDC holdings nearly doubled from $4.2 billion to $8.2 billion. Meanwhile, Tether's USDT supply on Solana is $1.96 billion. This surge coincides with increased trading volumes on Solana's DeFi protocols and a memecoin boom, including the recent launch of Trump-themed coins.

Consequences and Impact on Solana

The memecoin craze has had a significant impact on the Solana ecosystem, driving the price of Solana's native token, SOL, to an all-time high above $260. Simultaneously, Solana's daily transaction fees reached $33 million last week, indicating high trading activity around memecoins.

The increase in stablecoins and memecoins on Solana has highlighted the platform's dynamic growth and potential in the DeFi space, drawing considerable attention to its ecosystem.

0

Share

Other news

How Trump's Order Affects US Cryptocurrency Policy: Details and Group Composition

Trump's order creates a crypto working group, excluding FDIC and Fed, prohibits CBDC creation.

user avatarA1

8 minutes ago

Cryptocurrency Presales 2023: Arctic Pablo Coin and More

Arctic Pablo Coin, Book of Meme, and Turbo offer unique opportunities in cryptocurrency presales.

user avatarA1

8 minutes ago

Wall Street Changes Stance on Cryptos With Trump's Second Term

Wall Street embraces cryptos with Trump's regulatory reforms during his second term, altering financial institutions' approach.

user avatarA1

9 minutes ago

Sonic's Recovery Hurdles and Bittensor TAO and Qubetics Trends in the Market

Sonic faces challenges, while Bittensor TAO and Qubetics innovate in the crypto space.

user avatarA1

10 minutes ago

Cathie Wood on Trump Coin and Crypto Revolution's Future

Cathie Wood discusses Trump's significance in the new phase of crypto revolution and his role in digital assets development.

user avatarA1

10 minutes ago

Ethereum: Impact of Current Market Conditions on Cryptocurrency Rate

Ethereum's price continues to fluctuate between $3,300 and $3,500, showing balance between buyers and sellers.

user avatarA1

12 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.