Solana’s total value locked (TVL) has exceeded $10 billion, for the first time since the FTX collapse, which sent shockwaves across the crypto ecosystem.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
3 mins read
The Solana blockchain has witnessed a sharp surge in the total number of stablecoins minted on the platform amid the TRUMP meme coin TRUMP $9.31 24h volatility: 2.1% Market cap: $1.86 B Vol. 24h: $374.85 M frenzy. On-chain data shows that the blockchain witnessed $3 billion worth of stablecoin inflows just over the last three days, taking Solana’s total stablecoin holdings closer to $10 billion.
According to data from DeFiLlama, total stablecoin holdings on the network surged from $6.1 billion on January 17 to $9.8 billion as of now.
Source: DeFiLlama
This massive surge in stablecoin holdings was primarily due to meme coin trading pairs utilizing the market’s two largest stablecoins USDT USDT $1.00 24h volatility: 0.0% Market cap: $144.04 B Vol. 24h: $40.56 B and USDC USDC $1.00 24h volatility: 0.0% Market cap: $60.54 B Vol. 24h: $14.25 B . As we know, the launch of the TRUMP meme coin and the MELANIA meme coin MELANIA $0.58 24h volatility: 0.6% Market cap: $87.12 M Vol. 24h: $17.75 M has triggered huge trading activity over the past weekend.
Over the past week, the combined stablecoin value on Solana saw significant growth, with USDT reaching $1.6 billion and USDC climbing to $7.7 billion — an over 50% increase for each. These inflows underscore the rising adoption of stablecoins and Solana’s expanding influence in the meme coin ecosystem. Moreover, the network’s scalability and efficiency continue to attract developers and users alike.
Solana’s total value locked (TVL) has exceeded $10 billion, for the first time since the FTX collapse, which sent shockwaves across the crypto ecosystem. This recovery highlights renewed investor confidence and growing adoption within the Solana blockchain.
Solana has achieved record-breaking decentralized exchange (DEX) trading volumes on consecutive days over the past weekend. On Saturday, the network reached an all-time high of $28.2 billion, only to surpass it on Sunday with an impressive $39.2 billion in volume. Analysts credit the rise to heightened trading interest in meme coins, stablecoins, and other DeFi assets on the network.
Source: Blockworks
Amid the broader market selloff, the SOL price SOL $121.1 24h volatility: 1.8% Market cap: $62.33 B Vol. 24h: $5.34 B is trading 5.6% down at $240 levels with a market cap of $117 billion. According to popular crypto analyst Kook Capital, the Solana price could potentially rise by 12.9x, exceeding $3,300 in the next three months. The analyst wrote:
“Insider on spaces saying “sol value to be increased by 12.8x in 90 days” meaning 1T asset which could imply sol etf and reserve on the way”.
Kook Capital said that the key driver behind this projected surge would be President Donald Trump’s influence on the crypto market. It will be interesting to observe whether all Solana-based assets can collectively drive this frenzy ahead.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
