Solana (SOL) Stablecoin Inflows Surge, Solidifying Dominance

Click on the avatar to go live and chat!

In the past week, Solana (SOL) has performed exceptionally well in the stablecoin market, with holdings of USDT and USDC increasing by $424.87 million. This surge highlights Solana's strengthening position as the leading blockchain for stablecoin trading, further solidifying its leadership in the field. Compared to other blockchains, Solana's stablecoin inflows have seen significant growth, underscoring its strong capability in attracting liquidity.

According to Lookonchain data, during the same period, the stablecoin holdings on the Base platform also increased, growing by $75 million. Although this growth appears small compared to Solana, the $75 million inflow indicates that Base is steadily improving its adoption rate and liquidity. The increase in stablecoin inflows on this platform has made it one of the best-performing blockchains of the week, showcasing a positive outlook for its ecosystem in the future.

Performance of Other Blockchains

In the context of inflows surging in Solana and Base, several other blockchains have also shown good growth momentum:

Polygon (POL): The increase in stablecoins was $35.2 million, continuing to benefit from market demand for its layer 2 solutions, particularly in the application of scaling Ethereum transactions.

Optimism (OP): Increased by $15.29 million, indicating that the platform's market acceptance is steadily rising, especially in the Ethereum ecosystem.

Noble and Aptos (APT): These two blockchains also achieved stablecoin inflows, growing by $8.15 million and $3.45 million respectively. Although the increases are smaller compared to Solana and Base, they still show that these platforms are enhancing the vitality of their ecosystems.

Poor Performance of Other Blockchains

However, not all blockchains have performed strongly. The following platforms have experienced stablecoin outflows or slowed growth:

Binance Smart Chain (BSC): Stablecoin holdings slightly decreased by $0.29 million. Although the fluctuation is minor, it still indicates a decline in liquidity.

Fantom (FTM): Stablecoin holdings plummeted by $1.95 million, possibly related to challenges in user attraction and ecosystem expansion for the platform.

Click on the avatar to go live and chat!