Solana Processes $1.6T in Stablecoin Transfers in January – Here’s Why

January 2025 has been a good month for Solana, as the blockchain network processes an astonishing $1.6 trillion in stablecoin transfers.

This surge has placed Solana at the forefront of the stablecoin economy, making waves in the decentralized finance (DeFi) world.

According to data from Defillama, Solana’s blockchain has issued $11 billion in stablecoins, with major players like USDC and USDT leading the charge.

2025 Stablecoin Market

As of January 25, 2025, the stablecoin economy has surpassed a market cap of $215 billion, marking a $6.38 billion increase in just one week.

Notably, Solana’s blockchain has seen a huge increase in stablecoin issuance, with over $10.94 billion in stablecoins issued. The growth in Solana’s stablecoin market has been a defining feature of January 2025.

USDC, the most popular stablecoin on the network, saw a 71.7% increase in stablecoin activity. It contributed a huge part to Solana’s rise.

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Out of the $11 billion in stablecoins issued on Solana, USDC leads the pack with $8.5 billion. This accounts for 16.31% of the total USDC market cap. Tether (USDT) follows with $1.96 billion, and PayPal’s PYUSD rounds out the top three with $142.42 million.

This surge in stablecoin issuance has been driven largely by institutional demand. As well as the adoption of Solana’s high-performance blockchain for digital asset transfers.

In addition to stablecoin issuance, Artemis Terminal data shows that Solana has also handled $1.6 trillion in stablecoin transfers in January alone. This represents a big leap compared to other blockchains. Surpassing Ethereum’s $607 billion and Base’s $664 billion during the same period.

This record-breaking transfer volume highlights Solana’s capacity to handle high throughput and its growing role in global cryptocurrency transactions.

Solana’s Growing Appeal

Why is Solana leading the charge? Its fast transaction speeds and low fees make it a go-to option for stablecoin issuers and traders.

The blockchain has become an essential infrastructure layer for the DeFi ecosystem. It provides scalability that many other networks struggle to offer. With billions of dollars flowing across the Solana blockchain, the network has shown it can scale to meet the demands of the rapidly growing stablecoin economy.

However, as reported by The Coin Republic on January 25, Solana’s growing network activity has led to increased congestion and fees. This has prompted the development of SVM-compatible blockchains.

This approach, inspired by Ethereum’s Virtual Machine (EVM), aims to improve interoperability and user experience. The Phantom wallet, similar to MetaMask, now supports seamless switching between SVM-compatible networks, enhancing cross-blockchain transactions.

This shift marks a key moment for Solana, as modular blockchains promise faster scaling. As the Phantom wallet adds more supported networks, it paves the way for new investment opportunities. It also aims to potentially attracts more capital to the ecosystem.

With SOL’s market cap rising, analysts anticipate further growth, driven by both technological progress and political backing.