TRUMP Token Surge Boosts Solana Stablecoin Supply to $10.5 Billion
Solana's (SOL) stablecoin supply has reached a record-high of $10.5 billion, doubling since January. Key developments include:
- Circle's USDC supply on Solana surpassed $8 billion, increasing by over $4 billion this month.
- Tether's USDT grew from $917 million to $2 billion.
- The surge in liquidity is attributed to the launch of the TRUMP coin on January 17, which significantly boosted trading volume.
- Solana's decentralized exchanges (DEX) recorded daily trading volumes exceeding $25 billion, representing 74% of total DEX activity across all blockchains.
- SOL price increased by 20%, outperforming Bitcoin's 2% gain this week.
- New stablecoin issuers, including First Digital and Sky, are expanding their presence on Solana.