Solana (Sol), the Layer-1 block chain designed for high-speed and low-cost transactions, has been in the center of a commercial frenzy with the memory of Donald Trump that drives the supply of stable on the network to a new record.
The total supply of Stablecoin in Solana has increased to $ 10.5 billion, duplicating since the beginning of January, according to the Artemis data source. The Circle USDC led the increase exceeding $ 8 billion in total circulation in Solana, adding more than $ 4 billion this month, while the USDT of Tether grew to $ 2 billion of $ 917 million, by Artemis. Stablecoins is a key piece of infrastructure in the cryptographic economy, which serves as a popular liquidity source for cryptography trade.
Solana and its built -built protocol ecosystem have become a bustling center for trade and the launch of tokens in cryptographic sectors of rapid heat and rapid growth, such as memecoins and Crypto AI.
The growth of the Netablin’s liquidity of the network was stable in recent months as the digital asset markets rejuvenated with Trump’s electoral victory friendly with cryptography, but shot with the launch of Trump Coin on January 17, The “official” memecoin “tied to the president of the United States. Run in Solana, the Token obtained a volume of mass negotiation through decentralized exchanges, promoting the transaction activity and the liquidity inputs to the network.
Before the Token appeared in popular centralized exchanges such as Binance and Coinbase, the trade with the Trump currency was first available in Decentralized Exchange Meteora (DEX) together with the USDC Stablcoin, David Duong and David Han de Coinbase Institution Research, noted on a Friday report. That said, rapid movement operators first needed to acquire the USDC first to buy the currency, promoting USDC tickets to the network.
Together with the growth of Stablecoin, the volume of negotiation in decentralized exchanges based in Solana (DEX) also rose to register maximums of more than $ 25 billion per day, executing 74% of the general negotiation volume of Dex General in All block chains, the report said.
“Amazing numbers,” said Sean Farrell, head of Digital Assets Research at Fundstrat, in an X publication.
The increase in activity was reflected in the price of Native Token (Sol) of Solana, publishing the highest gain until this week with 20% among the members of the Coindesk 20 Market Index, greatly exceeding the 2% advance of Bitcoin (BTC) of 2%.
Read more: Solana Bull Big in Sol Rallying at $ 400
While the USDC and the USDT of Tether dominate the Stablecoin market in Solana, as they do in the widest cryptographic panorama, there is a growing number of promising emitters who recently expanded to the block chain, said Tom Wan, boss of data from entropy advisors.
Last week, First Digital Support Suport in Solana with Solana headquarters for its stablecoin backed by FDUSD FDUSD of $ 1.8 billion. Defi Landing Behemoth Sky, previously Makerdao, also brought its USDS Stablcoin performance generator to the network in November.
