Solana Non-USDC, Non-USDT Stablecoin Supply Hits Record $4.81 Billion
Minseung Kang
Summary
- SolanaFloor said non-USDC and non-USDT stablecoin supply on the Solana network hit a record $4.81 billion.
- On the Solana network, USDC and USDT have historically accounted for most stablecoin liquidity.
- SolanaFloor said the increase was driven by USD1 and USDG0, suggesting stablecoin liquidity in the Solana ecosystem is expanding into other assets.
Forecast Trend Report by Period
Stablecoin supply on the Solana network excluding USDC and USDT has reached a record high.
SolanaFloor, an account covering the Solana ecosystem, wrote on X on July 20 that non-USDC and non-USDT stablecoin supply on the network climbed to an all-time high of $4.81 billion.
Stablecoins are cryptocurrencies designed to track the value of fiat currencies such as the US dollar. On Solana, USDC and USDT have historically accounted for most stablecoin liquidity.
SolanaFloor said the increase was driven by USD1 and USDG0. The rise suggests stablecoin liquidity in the Solana ecosystem is expanding beyond the dominant tokens into other assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.