Solana, the second largest Blockchain by the total value (TVL), has seen that its ecological system grows dramatically, driven by a rapid increase in the market value of Stablecoins.
DEFILAMA analysis analysis data shows that the maximum stablecoin market has reached $ 10.7 billion at the time of writing this report.
Break
Previously, the highest collective value Of all stablecoins on Solana was about 6.259 billion dollars, it was achieved in June 2022. Between December 2022 and January 2024, the scale remained less Numbers It reaches 101 billion dollars.
During this period, Justin Sun Tone also recorded a roof for the STADLECOINS higher market, reaching $ 31 billion in June 2022 to approximately $ 50 billion at the beginning of 2024.
While the two nets maintained dominance, Solana’s last growth is great. In the past seven days, the Ethereum and Trone’s Stablecoin values have increased by a little more than 1 %. Meanwhile, the Anatoly Yakovenko platform increased by 77.45 %, with a sign of $ 10 billion and a new record in this process.
The technical capabilities of Blockchain are also tested. It is said Operations About 350 million transactions per day, generating $ 50 million fees, which, at annually, reaches $ 19.4 billion.
Unlike Tron and Ethereum, the most dominant stablecoin is connected, by 98.3 % and 56.3 %, respectively, the largest stablecoin in Solana is USDC, representing 77.2 % of the maximum market. The ecological system witnessed $ 3.75 billion of the distinctive code that was issued during the past week, thus reaching an average of 8.26 billion dollars.
The USDT value on the network is just less than $ 2 billion, with Pyusd from PayPal a third of the distant at $ 150 million.
Meme Coin Mania behind Solana performance
According to analysts, the mutation was primarily driven by Meme Coin trading pairs using USDC and USDT. He coincided with the release of two symbols on Blockchain, one by US President Donald Trump and another by First Lady Melania.
Trump’s official currency (Trump) was talking about the city at the end of last week, as it reached a maximum of the amazing market with a value of $ 15 billion, and Baby and Jiba Eno are wiping out to become the second largest Mimi currency in the market. However, the introduction of Melania Mimi (Melania) rained on the Trump procession, causing the president’s symbol to lose half of its value within a few hours.
Currently, Trump is trading around the level of $ 36, with the maximum market of $ 7.25 billion as the 29 largest encrypted currencies on the market. The other symbol has decreased by 24 % in the past 24 hours and currently changed the hands at $ 2.79.
By the way, the frenzy accompanying the launch of two Meme Coins currency has paid 18 %, which helped it reach the highest new level ever at $ 270.
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