#Write2Earn #TrendingTopic #solonairdrops $SOL $BTC $BNB Rampant bot activity on DeFi platforms has pumped up the on-chain transaction volume of Solana-based stablecoins past $1 trillion in the first two months of this year alone.
As of Feb. 22, Solanaâs monthly stablecoin turnover has reached $643 billion, surpassing Januaryâs volume of $531.32 billion, according to data from crypto analytics platform Artemis.
Most of Solanaâs transactions occur on its decentralized exchanges (DEXs), most notably on Phoenix, which has caught the attention of media outlets, data providers, and social media influencers.
It has suspiciously high volumes of daily USDC transfers, hitting $27.5 billion on Feb. 20 alone, according to data provider Hellomoon.
To put that figure in perspective, that one DEX on Solana saw more USDC volume on Feb. 20 than Ethereumâs entire stablecoin transfers that day of $20.9 billion.
Itâs worth noting that Solana has $2.2 billion worth of stablecoins in its ecosystem, compared with Ethereumâs $71.6 billion, according to DefiLlama.
