According to Cointelegraph, DefiLlama data showed that Solana added $1 billion in total stablecoin value in December, mainly USDC.
Solana’s stablecoin total value locked (TVL) is around $5 billion, of which nearly $4 billion is USDC, with USDT being the second-largest stablecoin at around $1 billion.
As of December 31, the total market capitalization of USDT and USDC was $137 billion and $44 billion, respectively. Since November, the market capitalization of the three major stablecoins has increased by more than $25 billion.
Solana has become a strong competitor to Ethereum in the DeFi field, with TVL increasing by about 5 times to $8.6 billion in 2024. Grayscale listed Solana's native DeFi applications Jupiter and Jito in the top 20 tokens to watch in the first quarter of 2025.
