SOLANA has achieved an important milestone because StableCoin Supply exceeded $ 10 billion for the first time. This prominent growth reflects the rapid increase in distributed finance (Defi) activities and the waves of interest in retail, especially due to the popularity of Memcoin.
Key takes
SOLANA’s StableCoin Supply has reached the highest ever $ 10.8 billion in history and has been increasing by 110 % since January. Circle USDC is a dominant StableCoin on the network, accounting for about 80 % of the total supply. The increase in STABLECOIN’s supply is closely related to the madness of trade between the Trumps, especially the Trump family, which is the theme of the Trump family.
Overview of growth
According to Defillama data, Solana’s StableCoin Supply has rapidly increased from $ 5.1 billion in the early January to $ 10.8 billion. Due to the trajectory of this growth, Solana is located before other blockchain, Ethereum is $ 115 billion, BNB chain, bass, and gold associations, respectively, $ 7 billion, $ 3.1 billion. I am late.
Solana’s SOLANA’s StableCoin Suppry has increased mainly due to Circle’s USDC. As a result, the USDC supply at Solana doubled from almost $ 4.2 billion to $ 8.2 billion within a month.
Impact of Memcoin
The recent boom of Solana’s StableCoin Supply is closely linked to the popularity of Memcoin. The launch of the Trump theme of Trump has gained a lot of interest in the retail business, which led to the increase in transactions and activities on the network. As a result, StableCoin’s supply has increased, but SOLANA’s native token SOL prices have been high, exceeding $ 294.33.
Due to the frenzy of transactions, Solana’s daily transaction fee has reached the highest in history, which is more than $ 33 million in history, reflecting intense transaction activities surrounding these Memcoin.
Future prediction
With Solana’s StableCoin supply and a rapid increase in trading activities, analysts have guessed the possibility of further increase in SOL. Historical trends suggest that the significant growth of stubcoin supply often precedes SOL’s bullish movements. If the current trend continues, SOL can see up to 45 % rising, which can reach $ 362 by March 2025.
In addition, the expected release of the Solana Futures ETF can further enhance the institutional interest and liquidity and strengthen the Solana position in the blockchain ecosystem.
Conclusion
Achieving SOLANA exceeding $ 10 billion of StableCoin is a proof of its outstandingness in the landscape of cryptocurrency. The combination of the robust Defi activity and the excitement surrounding the Memcoin created a unique environment for growth. As the ecosystem continues to evolve, Solana is making further progress, making it an important player in the future of distributed financials.