
The provision of stablecoins on Solana jumped by way of 112% in January to a document prime of $11.1 billion, CCData (a subsidiary of CoinDesk) mentioned in a analysis record on Friday.
The surge coincided with the release of Donald Trump’s memecoin $TRUMP, which brought about a wave of inflows to the community, in step with the record. Stablecoin provide has risen by way of 73.6% since $TRUMP introduced on Jan. 18.

Buying and selling task round $TRUMP ended in document task on decentralized exchanges (DEXs) and contributed to stablecoin provide on Solana, surpassing its earlier document set in 2022 and changing into the 3rd greatest community at the back of Ethereum and Tron, in accordance with this metric.
The record additionally mentioned that the marketplace capitalization of all stablecoins has handed $200 billion, having grown by way of $37 billion since Trump received the U.S. election in November.
The rise in provide has additionally coincided with a lower within the domination of Tether’s USDT, the biggest stablecoin with a marketplace cap of round $140 billion. In step with CCData, its proportion of the field dipped from 67.5% to 64.9% in January, the bottom since Would possibly 2023.
One such beneficiary of this development seems to be Ripple’s USD, which was the fourth-largest stablecoin by way of buying and selling quantity on centralized exchanges in January, the record mentioned.
Ripple spent a lot of the previous few years locked in a prison fight with the U.S. Securities and Alternate Fee (SEC). The “Trump impact” has helped local token XRP leap by way of 33% to industry at over $3.10 this month, and CEO Brad Garlinghouse has spoken of a bump in U.S.-based offers and hiring as smartly.
Learn Extra: Grayscale Recordsdata SEC Proposal to Convert XRP Consider Into ETF
GIPHY App Key not set. Please check settings