Solana on the Rise: Memecoin Craze Drives Stablecoin Supply to Record Highs

The blockchain Solana , known for its fast and low-cost transactions, has seen a dramatic increase in the supply of stablecoins, reaching a new record of $10,5 billion. And what’s driving this growth? A veritable trading frenzy, driven in part by the craze for memecoins, including politically themed ones like the TRUMP token.

According to a data According to the Artemis on-chain platform, the total supply of stablecoins on the Solana network has doubled since the beginning of the year. One of the main catalysts for this increase on the network was Circle’s USDC, which surpassed the $8 billion mark in total circulation on Solana, adding over $4 billion in January alone. Tether’s USDT also saw significant growth, jumping from $917 million to $2 billion, according to the platform.

Stablecoins play a crucial role in the industry, acting as an important source of liquidity for cryptocurrency trading. They offer price stability, which makes them an attractive option for traders and investors looking to minimize the volatility inherent in the crypto market.

Solana and its ecosystem have emerged as a major hub for token launches and trading in fast-growing sectors such as memecoins and artificial intelligence (AI)-related projects in the cryptocurrency space. The network’s ability to process large volumes of transactions quickly and efficiently has attracted a growing number of projects and users.

At the time of publication, Solana was trading at $250,30, down 5.2% in the last 24 hours. In one week, the asset has appreciated by 3.0%.

Solana hits new all-time high driven by wave of trading and Trump effect

A Solana (SOL) cryptocurrency has reached a new high The company recently made a historic price move above the $295 mark, driven by a significant increase in on-chain trading activity. This exponential growth coincided with the announcement of US President Donald Trump’s TRUMP token, adding an extra spice to the rise.

On January 17, the crypto landscape was shaken by an announcement that reverberated across several networks, including Solana. The mention of a token named “TRUMP” created a frenzy among investors, triggering a rush for related digital assets and, consequently, positively impacting the Solana ecosystem. The influence of public figures on the cryptocurrency market is nothing new, but the intensity with which this specific event affected Solana demonstrates how interconnected these worlds can be.