🔥Solana Becomes Number One Chain in One More Metric🚀
🧠The Solana blockchain has surpassed Ethereum and all other chains in weekly stablecoin transfer volume for the first time.
The data indicates a monthly increase of 612%. This achievement shows Solana's rapidly growing dominance in the cryptocurrency landscape.
🎉Stablecoin landscape
According to the latest figures, Solana's transfer volume stands at an impressive $103.01 billion. Ethereum, long considered the leader in this space, follows closely with $90.87 billion.
🛩Other notable chains such as Tron and BNB Chain reported volumes of $82.29 billion and $14.65 billion, respectively, while Arbitrum experienced a 26.2% decrease, reporting $8.11 billion.
👀The Solana blockchain hosts several significant stablecoins, with USD Coin (USDC) leading at a market capitalization of $977.3 million, maintaining a steady peg around $1. Tether (USDT) follows with a market cap of $831.19 million.
Other stablecoins on Solana include Parrot USD (PAI) and UXD Stablecoin (UXD), with smaller market caps of $17.38 million and $11.1 million, respectively.
🥰More Solana chains
😘Solana's achievements extend beyond transfer volumes. The chain has also surpassed Ethereum in daily and weekly decentralized exchange (DEX) trading volumes, a clear sign of its increasing prevalence in the decentralized finance (DeFi) sector.
🛑It has also taken the lead in perpetual futures trading volume, an essential aspect of market liquidity and investor interest.
Solana's market capitalization recently grew to over $50 billion, and it remains around that mark, according to the latest CoinGecko data.
