The USDC of Circle was the most dominant stablecoin on Solana, representing approximately 80 % of all stablecoins on the network.
The market value of Stablecoins on Solana Blockchain increased more than twice in January, as it rose from $ 5.1 billion on New Year’s Day to $ 11.4 billion at the end of the month, according to Devillama data.
Solana appeared as a favorite network for Memecoin merchants, attracting activity from ETHEREUM with its low fees and fastest transactions. It seems that the increase in the edition of Stablecoin was linked to the renewed explosion of Memecoin’s speculation, which gained power when US President Donald Trump launched a Solana -based cryptocurrency on January 18, followed by Melania’s symbol named after the first lady.
According to CCDATA, Solana Stablecoin Supply jumped with more than 73 % since mid -January, driven by the launch of Memecoin from Trump.
Read more
