Solana's layer-1 blockchain sees stablecoin supply surpass $3 billion, marking 55.72% growth in three months. USDC leads with 73% dominance, reflecting increased liquidity and capital influx. Factors include meme coin frenzy and expanding DeFi activity. Solana's growth signals its pivotal role in digital asset transactions.
Huang BoSolana’s stablecoin has seen a reversal in weekly transfer volumes as investors chase yield, airdrops and high returns amid the Memecoin craze.
JinseFinanceSolana's robust performance in the stablecoin market, surpassing Ethereum in trading volume, indicates its growing dominance. With a 2.3% dip in SOL's price, the ecosystem's expansion, driven by airdrops and meme coin BONK, suggests a potential path to $200. However, current resistance at $115 poses a challenge, emphasizing the need for cautious optimism.
Cheng YuanPaxos, expanding to Solana, faces regulatory challenges while growing partnerships and market presence.
Cheng YuanTether, the world's leading stablecoin issuer, is undergoing a leadership shift, with Paolo Ardoino set to become the CEO in December 2023.
BitcoinworldThe primary function of the Frax Protocol is to maintain the FRAX price at $1.000 by using AMO contracts, real-world assets (RWAs), and governance actions facilitated by frxGov, leveraging USD oracles as a reference.
DavinA new breed of app-specific stablecoins could be just what DeFi needs.
BanklessComing out of nowhere, the largest crypto exchange, Binance, announced the suspension deposit of USDC and USDT of the Solana network yesterday.
NellThe $3.5 million flash loan attack Solana-based Nirvana Finance saw the price of its stablecoin NIRV and native token ANA fall around 85% apiece.
CointelegraphAlthough USDC is the second largest Stablecoin, it is the most used on-chain Stablecoin in the Crypto space.
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