According to data from Alphractal, the stablecoin market capitalization has reached a record high after a period of steady growth since mid-2023.
Stablecoin market capitalization has hit a record high after a period of steady growth since mid-2023, according to data from Alphractal.
The analysis platform reported on January 31 2025 that the market cap surged by 73%, rising from $121.18 billion in August 2023 to an all-time high of $211 billion.
The growth in stablecoin supply is well epitomized on Solana, which has emerged as the popular platform for memecoins.
Solana’s stablecoin supply soared in January 2025, surpassing $10 billion for the first time and setting a new all-time high.
A key driver behind this surge appears to be the popularity of Trump family memecoins, including the Official Trump ($TRUMP) and Official Melania Meme ($MELANIA) tokens.
Meanwhile, U.S President, Donald Trump, signed an executive order promoting the growth of dollar-backed stablecoins and imposing a ban on central bank digital currencies (CBDCs).
The move comes amid the ongoing expansion of BRICS with new entrants such as Nigeria and Uganda drawn in in efforts to establish a new world order and create an alternative to the U.S. dollar in international trade.
The move by the African countries to join BRICS comes despite stablecoins having emerged as the most popular cryptocurrency in Africa.
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