Solana Crushes Ethereum and Tron in Stablecoin Inflows, Signaling a Shift in Capital

Solana has beaten other major blockchain networks in stablecoin inflows over the past week, with a $3.13 billion increase in USDT and USDC holdings.

Solana Surges Past Ethereum in Stablecoin Inflows with a $3.13 Billion Increase

Major blockchain networks saw varying changes in stablecoin inflows over the past week, with Solana emerging as the clear frontrunner. According to data from blockchain analytics firm Lookonchain, Solana’s stablecoin holdings (USDT and USDC) surged by a massive $3.13 billion.

This impressive growth far outpaced the stablecoin inflows observed on other networks, including Ethereum and Tron.

Solana’s Dominance in Stablecoin Distribution

Data analysis reveals Solana’s leading position among the top 15 blockchain platforms in terms of stablecoin distribution. Over a single week, from January 13 to January 20, 2025, stablecoin holdings on the Solana network soared by $3.13 billion, highlighting the platform’s strong performance in stablecoin adoption.

In contrast, Ethereum’s stablecoin holdings increased by a smaller amount, rising by $652 million over the same period. This pales in comparison to Solana’s recent performance.

Other Blockchains Report Modest Gains

While Solana led the pack, several other blockchain networks also experienced an increase in stablecoin holdings. Tron recorded a $442.25 million rise in stablecoin holdings, and Hyperliquid, a decentralized exchange, reported an additional $329 million, indicating its growing role in decentralized finance (DeFi). Aptos also added $67.43 million in stablecoin holdings, securing a spot among the platforms with steady growth.

Several Blockchains Lose Stablecoin Reserves

On the flip side, Arbitrum saw the largest decrease among all networks, with a $637 million drop in stablecoin holdings. Avalanche followed with a decline of $325.16 million, and other chains like Polygon, Base, and Near also had decreases in stablecoin reserves.

Solana’s Performance in Context

Solana’s strong performance in attracting stablecoin inflows is evident when compared to other weeks. For instance, in the week ending December 30, 2024, Solana added $424.87 million in stablecoin reserves, which was smaller but still significant compared to Ethereum and Tron during the same period.

This data showcases the shifting trends in stablecoin distribution and the growing influence of platforms like Solana in the decentralized finance landscape.