73 The supply of stablecoins on the Solana blockchain has more than doubled in January, reaching $11.1 billion, according to new data from CCData. This 112% surge coincides with a trading frenzy surrounding Donald Trump’s memecoin ($TRUMP), which launched earlier this month. The sharp increase in stablecoin liquidity on Solana began following the January 18 launch of $TRUMP, which saw a rapid influx of investors seeking exposure to the token. Since its debut, stablecoin supply on Solana has surged 73.6%, reflecting heightened trading activity and liquidity demand. The memecoin’s popularity has also fueled record-breaking volumes on Solana-based decentralized exchanges (DEXs), further establishing Solana as one of the top blockchains for stablecoin transactions. With this surge, Solana has become the third-largest blockchain by stablecoin supply, surpassing Binance Smart Chain and now trailing only Ethereum and Tron. The overall market capitalization of stablecoins has also expanded significantly, crossing $200 billion in January. Since Trump’s election victory in November 2024, the stablecoin market has added $37 billion, reflecting broader investor interest in digital assets. Despite its dominance, Tether’s USDT—the world’s largest stablecoin—saw its market share slip from 67.5% to 64.9% in January, marking its lowest level since May 2023. Meanwhile, Ripple’s USD stablecoin has gained momentum, becoming the fourth-largest stablecoin in trading volume on centralized exchanges this month. Solana’s stablecoin growth highlights the impact of memecoins and speculative trading on blockchain liquidity. While $TRUMP’s popularity has driven unprecedented inflows, the long-term sustainability of this trend remains uncertain. If stablecoin reserves on Solana continue to rise, the network could further cement its position as a dominant player in decentralized finance (DeFi) and on-chain trading, potentially challenging Ethereum’s long-standing dominance. CryptocurrencyRippleSolanaTetherTrumpUSDT 0 FacebookTwitterPinterestEmail Author Profile Posts by the Author Bitcoin Drops to $86,000 Triggering $1.6 Billion in Liquidations Solana Stakers Reduce Deposits as SOL Price Declines OKX Reaches $500 Million Settlement with U.S. DoJ Over Compliance Violations Franklin Templeton Joins the Solana ETF Race, Potentially Integrating Staking Rewards Pi Network Token Plummets 65% After Mainnet Launch Amid Legitimacy Concerns SEC Accepts CoinShares XRP ETF Application for Review Jacob Ezra Freelance News writer, and Editor. previous post World Liberty Financial Increases Ether Holdings with Additional $10 Million Purchase next post Uniswap v4 Goes Live on 12 Blockchains with Major Upgrades You may also like Bitcoin Drops to $86,000 Triggering $1.6 Billion in... February 25, 2025 Solana Stakers Reduce Deposits as SOL Price Declines February 25, 2025 OKX Reaches $500 Million Settlement with U.S. DoJ... February 25, 2025 Franklin Templeton Joins the Solana ETF Race, Potentially... February 24, 2025 Pi Network Token Plummets 65% After Mainnet Launch... February 21, 2025 SEC Accepts CoinShares XRP ETF Application for Review February 19, 2025 U.S. Crypto Investors Continue to Embrace Memecoins Despite... February 19, 2025 Wintermute Eyes U.S. Expansion Amid Strategic Growth Plans February 19, 2025 FTX Begins Initial $1.2 Billion Payout to Creditors February 18, 2025 Ethereum Layer-2 Abstract Investigates Wallet Drain, Possible Link... February 18, 2025