February 25, 2025
$11.5 Billion Stablecoin Supply
This new minting raises Solana’s total stablecoin supply to $11.579 billion, with USDC holding 78% of the market. Since January, Circle has minted $8 billion in USDC, reflecting growing institutional and retail interest in the ecosystem.
USDC’s market cap on Solana is now just over $9.09 billion, leading over competitors like USDT. Despite USDC’s dominance, Tether remains the second-largest stablecoin on Solana with a $1.968 billion market cap.
Meme Coins Still Popular
The stablecoin market on Solana surged by 110%, driven partly by meme coin activity. High-profile figures like Donald Trump and Melania Trump have entered the meme coin space, adding further volatility to the market.
Argentina’s President, Javier Milei, was also linked to a failed meme coin project called LIBRA, adding to the political drama surrounding these tokens.
