With $1 billion in stablecoin inflow, when will Solana reach $1,000?
The Solana blockchain garnered over $1 billion in $USDC deposits in December as stablecoins' market value exploded after Donald Trump's November election triumph.
The doorway to the crypto industry is stablecoins, which enable investors to swap fiat assets for blockchain-based counterparts as a safe haven or to deploy throughout the market.
Citi Research reported a $25 billion increase in the market value of the main stablecoins, USDT, USDC, and Dai, since November.
The Solana ecosystem has grown significantly in recent years because to meme currencies like Bonk ($BONK) and dogwifhat (WIF) and the newly airdropped Pudgy Penguins' official token $PENGU.
CoinGecko values this Solana category at $18.97 billion.
Grayscale researchers stated in a recent study that retail traders increasingly access the crypto market via Solana as speculation rises surrounding memecoins and AI agent tokens.
Decentralized finance (DeFi) protocols like Jupiter and Jito have also let investors trade, lend, borrow, and stake their assets.
DeFiLlama reports $8.57 billion in Solana TVL.
Solana's number is increasing faster than its rivals', while being less than Ethereum's $65.95 billion.
Since 2024, Solana's TVL has increased 6 times while Ethereum's has doubled.
Solana's cheaper transaction costs, higher execution speed, and superior efficiency than Ethereum Virtual Machine explain this large disparity.
The most established tokens have had a minor retreat, while meme currencies and other alt-coins have lost double-digits.
The best of this cycle may be ahead, since BTC usually dominates the initial wave and altcoins perform best during the ‘altseason’.
Since the November drop, a bullish pattern has formed. Bull flags precede massive asset price increases.
This reinforces the relevance of this setup for market players and raises the likelihood of a successful pattern resolution.
If $SOL climbs over the flag's upper limit, it may retest $260 and higher.