Solana (SOL) Stablecoin Supply Rips 73.6% in Two Weeks After the Rollout of Donald Trump (TRUMP) Memecoin

Stablecoin supply on the Ethereum (ETH) rival Solana (SOL) has surged in the past couple of weeks after the rollout of President Donald Trump's Official Trump (TRUMP) memecoin

Solana (SOL) stablecoin supply has surged by 73.6% since the launch of President Donald Trump’s memecoin, according to crypto research firm CCData.

The research firm notes in a new report that the stablecoin supply on the Ethereum (ETH) rival has increased by 73.6% since January 18th, the day after the launch of the TRUMP coin.

CCData attributes the increase in stablecoin supply to the capital inflows and record-breaking decentralized exchange (DEX) trading activity on Solana, which were sparked by the launch of the memecoin.

Solana’s stablecoin supply also saw a 112% increase throughout January, reaching a new all-time high of $11.1 billion. Last month, the total market capitalization of stablecoins across all chains increased by 5.68%, reaching $215 billion.

According to CCData, January marks the 16th consecutive month of stablecoin growth. However, Tether’s USDT, the top stablecoin by market cap, lost market share, with its dominance dropping from 67.5% to 64.9%.

Solana is currently trading at $229.24, down about 4% in the last 24 hours. The fifth-ranked crypto asset by market cap is up nearly 18% in the last 30 days, despite a recent decline of more than 11% over the last seven days.

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