Solana is turning heads in the stablecoin space.
While it is not leading in every metric, the speed at which Solana is moving forward is turning heads. Experts note that its rapid growth and efficient network performance could make it a major player in the crypto space.
A research analyst at Bitwise has highlighted Solana’s momentum, noting that though Solana does not host the most stablecoins, it boasts the fastest-growing stablecoin supply among major networks.
Solana’s stablecoin supply has surged over 40% in the few months since the GENIUS Act was signed, now sitting at around $15 billion.
In comparison, Ethereum still dominates with about $178 billion, but its growth rate has been much slower at 27%. Other networks like Base, Hyperliquid, and Arbitrum have seen only minor increases, while TRON has seen its stablecoin supply shrink by nearly 4%.
Solana continues to gain traction in real-world finance, hosting 60% of tokenized stock volume on its chain, according to a report from VanEck. In September, Solana processed $125B in DEX trading volume, surpassing Ethereum for the 11th consecutive month and solidifying its position as the top blockchain for DEX activity.
Analyst Nelson says that we are now witnessing the early impact of a major shift. The GENIUS Act gave companies and banks the go-ahead to explore digital solutions. Now, they are choosing which blockchain to build on.
The law aims to strengthen the $300 billion stablecoin industry by providing a transparent framework and attracting more institutional investors. As ‘Payment Stablecoins’ become central to global finance, speed and cost efficiency are key factors and this is where Solana has a clear advantage.
Bitwise CIO Matt Hougan also recently said “Solana is the new Wall Street”. He explained that major players see stablecoins reinventing payments and tokenization transforming stocks, bonds, commodities, and real estate.
Thanks to its speed, high throughput, and quick transaction finality, it’s especially appealing for investors evaluating blockchain platforms. Solana also witnessed a standout week in digital asset investment products, attracting $706.5 million.
Nelson says he’s watching for signs that Solana can keep this momentum going. He notes that the past month has been a strong hint. Backed by new partnerships, DeFi integrations, and fresh product launches, Solana’s stablecoin supply jumped by nearly $3 billion in just 30 days, about 25% growth.
In comparison, Ethereum’s stablecoin supply grew only 8% during the same time.
He concluded by saying that stablecoins are becoming a core part of the crypto world. Blockchains that can make the most of this trend are likely to benefit the most over time.
Solana’s rapid growth is driven by its high speed and low costs, making it attractive for stablecoin transfers and tokenizing real-world assets like stocks, leading to a 40% supply surge.
While Ethereum has a larger total value, Solana is growing faster in key areas like stablecoin supply and DEX volume, positioning it as a strong competitor, especially for payments.
Solana is gaining significant traction in stablecoins and real-world asset tokenization, with strong institutional inflows suggesting growing confidence in its long-term utility.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is close to…
The BNB price has hit a new ATH of $1,100 with the start of “Uptober”…
In 2023, Pepe shocked the market when a $10,000 bet turned into $1 million within…
Story Highlights The live price of Ondo Price is Ondo price could reach a high…
Companies across the globe are increasingly exploring Bitcoin as part of their corporate strategies. This…
The U.S. Securities and Exchange Commission (SEC) is reviewing multiple crypto spot ETF applications. After…
