Solana Stablecoin Supply Increases 73% Driven by $TRUMP Memecoin Launch
Since mid-January, Solana's stablecoin supply surged by 73%, reaching $11.1 billion. This increase coincided with the launch of the $TRUMP memecoin, which attracted significant investments and trading activity on decentralized exchanges (DEXs).
Key Points
- Solana has become the third-largest blockchain for stablecoins, surpassing BNB Chain, while still trailing Tron and Ethereum.
- USD Coin (USDC) dominates Solana's stablecoin market, making up 78% of total supply; USDT follows with 12%.
- The $TRUMP token sparked a rise in on-chain users, bringing hundreds of thousands to the network.
- Increased user engagement resulted in higher transaction volumes across Solana’s decentralized markets.
The memecoin trend is contributing to Solana's overall growth and attracting new participants to its ecosystem.
