Grayscale: In February, the trading volume of stablecoins on the Solana chain reached a new high of $65 billion, with increasing payment demand
By: rootdata|2026/03/04 22:48:46
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According to The Block, the trading volume of stablecoins on the Solana chain has reached $65 billion, setting a new historical high and marking the highest level among all blockchains for the month, more than doubling compared to October last year.
The rising demand for retail on-chain payments has significantly boosted stablecoin activity. The report indicates that Solana is gradually shifting from meme coin-dominated on-chain transactions to SOL and stablecoin trading pairs, reflecting an increase in the proportion of payment use cases.
Previously, Standard Chartered also stated that the advantage of low transaction costs is helping Solana expand micro-payment and native internet financial application scenarios. In terms of market share, Solana currently holds the fourth largest stablecoin supply in the entire network, and in terms of USDC circulation, it is second only to Ethereum. Analysts believe that although Ethereum still dominates the stablecoin and RWA sectors, stablecoins may become an important pillar for the maturity of the Solana network.
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