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Solana leads weekly stablecoin growth: Surges above $5 Billion
In a remarkable turn of events, Solana has taken the lead in weekly stablecoin growth, managing to surge above $5 billion. This impressive milestone marks yet another significant achievement for the blockchain network in 2024.
According to recent data, Solana added a staggering $424.87 million to its stablecoin during the last week of 2024, making it the top gainer in terms of stablecoin growth over the past seven days. The majority of this growth was driven by USDT and USDC stablecoins.
Solana’s impressive performance is not limited to just stablecoin growth. In fact, the network has been one of the top-performing blockchains in 2024 across multiple fronts. This includes user growth, transactions, and stablecoin count. The latter, in particular, is crucial for facilitating liquidity as demand continues to rise.
It’s worth noting that Solana’s recent stablecoin marketcap surge marks a significant milestone, surpassing $5 billion on December 29th. This represents the highest level seen by the network since September.
This impressive growth in Solana’s stablecoin marketcap underscores its remarkable performance throughout the year. When we look at the beginning of the year, it becomes clear that the network has made immense progress. The Solana stablecoin marketcap was just $1.83 billion at the start of 2024. This represents a staggering 173% increase over the course of the year.
Furthermore, this growth mirrors the Total Value Locked (TVL) in the Solana ecosystem, which reached an all-time high of above $55 billion during the week.
Source: ambcrypto.com
