
Stablecoin provide at the Ethereum (ETH) rival Solana (SOL) has surged prior to now couple of weeks after the rollout of President Donald Trump’s Legitimate Trump (TRUMP) memecoin, in line with the crypto analysis company CCData.
CCData notes in a brand new file that Solana’s stablecoin provide has ripped by way of 73.6% since January 18th, the day after the TRUMP coin introduced.

TRUMP led to giant capital inflows and record-breaking decentralized trade (DEX) buying and selling job on Solana, which in flip ended in the rise in stablecoin provide, in line with the analysis company.
The stablecoin provide on Solana surged by way of a complete of 112% around the month of January to succeed in a brand new all-time excessive of $11.1 billion. The overall marketplace capitalization of stablecoins throughout all chains additionally jumped by way of 5.68% final month to $215 billion.
January represented the sixteenth consecutive month of stablecoin expansion, in line with CCData. Alternatively, the highest stablecoin by way of marketplace cap, Tether’s USDT, misplaced marketplace percentage, with its dominance degree losing from 67.5% to 64.9% final month.
SOL is buying and selling at $229.24 at time of writing. The fifth-ranked crypto asset by way of marketplace cap is down just about 4% prior to now 24 hours and greater than 11% prior to now week, although it stays up by way of just about 18% prior to now 30 days.
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