Solana’s Stablecoin Supply Surges 112% in January Amid $TRUMP Memecoin Frenzy
- Solana’s stablecoin supply reached a record $11.1 billion in January, a 112% increase.
- The launch of Donald Trump’s memecoin, $TRUMP, on January 18 spurred a 73.6% rise in stablecoin supply.
- Solana became the third-largest network for stablecoins, behind Ethereum and Tron.
- Total stablecoin market capitalization surpassed $200 billion, growing by $37 billion since November.
- Tether’s USDT market share fell from 67.5% to 64.9%, the lowest since May.
The introduction of the $TRUMP memecoin significantly boosted Solana’s stablecoin supply to new heights, making it the third-largest network by this metric and contributing to an overall market cap increase of over $200 billion.
Source (2.6)https://www.coindesk.com/markets/2025/01/31/stablecoin-supply-on-solana-surged-by-112-in-january-with-trump-memecoin-frenzy-ccdata?rand=52298
