{"id":12254,"date":"2025-02-10T12:46:47","date_gmt":"2025-02-10T12:46:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12254"},"modified":"2025-02-10T12:46:47","modified_gmt":"2025-02-10T12:46:47","slug":"solana-flips-ethereum-tron-in-30-day-stablecoin-growth-what-does-it-mean","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12254","title":{"rendered":"Solana Flips Ethereum, Tron in 30-day Stablecoin Growth: What Does It Mean?"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Going by DEX volume and meme coin activities, Solana is ahead of all other blockchains, including Ethereum and Tron. Therefore, news that Solana had overtaken Ethereum and Tron in stablecoin issuance over the past 30 days came as no surprise.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Solana Flips Ethereum and Tron in Stablecoin Growth<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">According to Artemis, over $5.5 billion worth of stablecoins, mostly USDC, was minted on Solana <\/p>\n<style>\n    .cwp-coin-chart svg path {\n        stroke-width: 0.65 !important;\n    }<\/p>\n<\/style>\n<p>    <span class=\"cwp-coin-widget-container\" data-id=\"sol-solana\" id=\"coin_widget_id_67a9f2da7666b\"><\/p>\n<p>        <!-- name of the coin in the text --><br \/>\n        <span class=\"cwp-coin-widget-wrapper\" data-id=\"sol-solana\"><br \/>\n            <span class=\"cwp-coin-widget-holder \" style=\"background:#e6eaed;\"><br \/>\n                <span class=\"cwp-coin-name\" data-id=\"sol-solana\"><br \/>\n                    <span class=\"cwp-coin-icon \"><\/span><br \/>\n                    <span class=\"cwp-coin-label \"><\/span><br \/>\n                    <span class=\"cwp-coin-symbol hidden\"><\/span><\/p>\n<p>                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-price hidden\"><\/span><br \/>\n                    <\/span><br \/>\n                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-trend \"><\/span><br \/>\n                    <\/span><\/p>\n<p>                <\/span><br \/>\n            <\/span><br \/>\n        <\/span><\/p>\n<p>        <!-- popup with basic info about the coin --><br \/>\n        <span class=\"cwp-coin-popup-wrapper \" data-id=\"sol-solana\" style=\"\"><br \/>\n            <span class=\"cwp-coin-popup-holder\"><br \/>\n                <span class=\"cwp-coin-name\"><br \/>\n                    <span class=\"cwp-coin-icon\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-name\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-symbol\"><\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-price\"><br \/>\n                    <span class=\"cwp-coin-price-title\">Price<\/span><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-price-value\"><\/span><br \/>\n                        <span class=\"cwp-coin-trend-holder\"><br \/>\n                            <span class=\"cwp-coin-trend\"><\/span><br \/>\n                        <\/span><br \/>\n                    <\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-volume\"><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-volume-title\">Volume in 24h<\/span><\/p>\n<p>                    <\/span><br \/>\n                    <span class=\"cwp-coin-volume-value\"><\/span><br \/>\n                    <!-- <span class=\"cwp-coin-trend-holder\">\n                        <span class=\"cwp-coin-trend\">?<\/span> \n                    <\/span>                     --><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-chart\"><br \/>\n                    <span class=\"cwp-graph-title\">Price 7d<\/span><br \/>\n                    <span class=\"cwp-graph-container\"><\/span><br \/>\n                <\/span><\/p>\n<p>            <\/span>           <\/p>\n<p>        <\/span><br \/>\n    <\/span><\/p>\n<p> over the last day. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This is more than the over $4.5 billion minted on Ethereum and way more than what Tron attracted. If anything, stablecoins worth over $1.5 billion were redeemed on <a class=\"general-link\" title=\"Tron, Tether And TRM Labs \u2018T3 Financial Crime Unit\u2019 Freeze $26 Million In Illicit Crypto\" href=\"https:\/\/99bitcoins.com\/news\/tron-tether-and-trm-labs-t3-financial-crime-unit-freeze-26-million-in-illicit-crypto\/\" target=\"_blank\" rel=\"noopener\">Tron<\/a>, pointing to a slowdown in demand.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Solana is #1 in stablecoin supply growth in the last month. <a href=\"https:\/\/t.co\/DFwIlwB2RW\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/DFwIlwB2RW<\/a><\/p>\n<p>\u2014 Artemis (@artemis) <a href=\"https:\/\/twitter.com\/artemis\/status\/1882816135567175858?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 24, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Topping all this up is that Circle, which is behind USDC, issued $250 million more USDC on Solana yesterday, according to on-chain trackers. Cumulatively, Circle has minted more than $7 billion worth of the stablecoin on Solana in roughly six weeks since the start of 2025.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Just in: Circle has minted $250M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$USDC<\/a> on <a href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@solana<\/a>.<\/p>\n<p>So far, they have minted $7B <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$USDC<\/a> on <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Solana<\/a> in 2025.<a href=\"https:\/\/t.co\/yL7ulJWFc6\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/yL7ulJWFc6<\/a> <a href=\"https:\/\/t.co\/zxAsTKD0hx\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/zxAsTKD0hx<\/a><\/p>\n<p>\u2014 Onchain Lens (@OnchainLens) <a href=\"https:\/\/twitter.com\/OnchainLens\/status\/1888653285479121355?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 9, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Even as demand increases and more users opt for the audited USDC over USDT, the latter is still the largest by market cap. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tether, which is behind USDT, has minted over $141 billion, with most of these tokens circulating mainly on Ethereum and Tron. Tether doesn\u2019t mint on Solana, a platform where Circle currently dominates. USDC has a market cap of $56 billion and is the second-largest stablecoin, more valuable than Dogecoin and Cardano.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">USDC Rising Transactions: Aftermath of EU Tether Ban?<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Parallel data from IntoTheBlock shows that more USDCs are being shuffled, looking at average daily transactions.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On average, it is up 119% year-to-date, and this coincides with USDT\u2019s dropping dominance from 73% a year ago to 65% in early 2025.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">USDC is becoming increasingly popular, with the number of daily transactions increasing by over 119% in the last year! <a href=\"https:\/\/t.co\/AODNgEnnnp\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/AODNgEnnnp<\/a><\/p>\n<p>\u2014 IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/1886468773827191224?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 3, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">During this time, the USDC market share rose to 25.5%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With regulatory clarity and the fact that Circle, whose part owners include Coinbase, is based in the United States, their market share will likely continue rising.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The new crypto czar David Sacks said the United States is currently <a class=\"general-link\" title=\"David Sacks Press Conference: Is Bitcoin The Only Coin Worth Holding?\" href=\"https:\/\/99bitcoins.com\/news\/david-sacks-press-conference-is-bitcoin-the-only-coin-worth-holding\/\" target=\"_blank\" rel=\"noopener\">focused<\/a> on providing regulatory clarity, especially on stablecoins.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Unlike USDT, which has no offices in the United States, USDC is regularly audited.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The latest Reserve composition data shows that Circle has minted $55.7 billion and currently holds $55.7 billion in reserves. Over the last week, they issued $4.6 billion, and $2 billion worth of USDC was redeemed.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-202564\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-10T122412.066.png\" alt=\"\" width=\"1312\" height=\"856\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-10T122412.066.png 1312w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-10T122412.066-300x196.png 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-10T122412.066-1024x668.png 1024w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-10T122412.066-768x501.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-10T122412.066-50x33.png 50w\" sizes=\"auto, (max-width: 1312px) 100vw, 1312px\"><\/p>\n<p>(<a class=\"general-link\" href=\"https:\/\/www.circle.com\/transparency\" target=\"_blank\" rel=\"noopener nofollow\">Source<\/a>)<\/p>\n<h2><strong><span data-preserver-spaces=\"true\">What\u2019s Driving USDC and Stablecoin Demand in Solana?<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Solana is playing a crucial role in USDC\u2019s expansion. Since the network is scalable and thus cheap to use, more users are flocking to the Ethereum alternative. There, they can mint meme coins and engage in DeFi.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Recently, the Trumps launched their meme coins on Solana, not Ethereum, and within hours, these tokens exploded in valuation. Although prices have since plunged, this endorsement is valuable for Solana and increases credibility, especially now that the team is working on improving network reliability.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Solana<\/a> ETF Update<\/p>\n<p>The <a href=\"https:\/\/twitter.com\/hashtag\/SEC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#SEC<\/a> approval deadline for the Solana ETF applications is set for January 25, 2025, for the initial review of applications from institutions like <a href=\"https:\/\/twitter.com\/hashtag\/VanEck?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#VanEck<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/21Shares?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#21Shares<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/Canary?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Canary<\/a>, and <a href=\"https:\/\/twitter.com\/hashtag\/Bitwise?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Bitwise<\/a>. However, there is also a mention of another deadline for\u2026<\/p>\n<p>\u2014 MartyParty (@martypartymusic) <a href=\"https:\/\/twitter.com\/martypartymusic\/status\/1882116099656786025?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Circle will also win should Bitwise, 21Shares, and VanEck succeed in their spot Solana ETF applications.<\/span><\/p>\n<p><b>EXPLORE:\u00a0<\/b><a href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\"><b>10 Coins with High Returns: Crypto Forecast 2025<\/b><\/a><\/p>\n<p><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"noopener nofollow\"><b>Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/b><\/a><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/solana-flips-ethereum-tron-in-30-day-stablecoin-growth-what-does-it-mean\/\">Solana Flips Ethereum, Tron in 30-day Stablecoin Growth: What Does It Mean?<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Going by DEX volume and meme coin activities, Solana is ahead of all other blockchains, including Ethereum and Tron. Therefore, news that Solana had overtaken Ethereum and Tron in stablecoin issuance over the past 30 days came as no surprise. Solana Flips Ethereum and Tron in Stablecoin Growth According to Artemis, over $5.5 billion worth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12254","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12254"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12254\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}