Trump Memecoin Craze Propels Solana Stablecoin Supply to $10.5B, Smashes DEX Records
Solana (SOL) has become the epicenter of a stablecoin liquidity boom, with total supply reaching an unprecedented $10.5 billion following the launch of Donald Trump’s viral memecoin. According to Artemis data, Circle’s USDC saw explosive growth, doubling to over $8 billion in circulation, while Tether’s USDT on Solana expanded from $917 million to $2 billion within weeks.
The TRUMP token, which debuted on January 17, spurred intense trading activity, initially paired with USDC on decentralized exchange (DEX) Meteora. This created a surge in demand for stablecoins as traders rushed to acquire USDC to buy the token. As a result, Solana’s DEX trading volumes skyrocketed, surpassing $25 billion daily and capturing 74% of all blockchain DEX activity, according to Coinbase Institutional Research.
“TRUMP token’s launch has pushed Solana’s ecosystem to new heights,” Fundstrat’s Sean Farrell remarked. “This is a pivotal moment for the blockchain.”
Solana’s native token, SOL, surged 20% this week, outperforming bitcoin’s (BTC) 2% gain, as the network experienced heightened activity and investor interest.
In addition to USDC and USDT, Solana has attracted new entrants like FDUSD from First Digital and Sky’s USDS stablecoin, further expanding its ecosystem. With record DEX activity and a growing pool of stablecoin issuers, Solana is solidifying its reputation as a high-performance blockchain for next-generation crypto trends.
