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Share link:In this post: Solana (SOL) increased its supply of stablecoins to over $4.5B in value. Stablecoins boosted DEX trading, with Jupiter becoming the biggest user. Solana’s ecosystem turned into the biggest fee producer in the past 24 hours, signaling peak activity.
Solana is showing peak activity, though not only meme tokens are responsible for the increased growth. Stablecoins have been flowing into Solana at peak levels.
Solana reached a record for daily stablecoin inflows. In the past few weeks, Solana has been increasing its value locked, to over $8.39B, of which around $4.5B are in the form of bridged stablecoins. The supply of stablecoins on Solana increased to levels not seen since the crash of FTX at the end of 2022. The bulk of the growth came from USDC, which added another 1B tokens from October 20 to date.
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