The Solana blockchain has seen its stablecoin supply skyrocket to $10.5 billion, doubling since January. Circle’s USDC has been the primary driver, increasing by over $4 billion this month to surpass $8 billion in circulation. Tether’s USDT also grew, reaching $2 billion from $917 million. This surge in stablecoin liquidity is largely due to the launch of the TRUMP memecoin on January 17, which has fueled massive trading volumes on Solana’s decentralized exchanges (DEX). These DEXs now handle 74% of all blockchain DEX trading volume, with daily volumes exceeding $25 billion. The TRUMP coin, initially paired with USDC on the Meteora DEX, has significantly boosted transaction activity and liquidity inflows. Solana’s native token, SOL, has also benefited, gaining 20% this week, far outpacing Bitcoin’s 2% rise.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
