FOMO in altcoins is not always related to price or technical strength.
In fact, stablecoin movements often set the tone, and Solana (SOL) seems to be following that pattern. Demand for its network is improving, although prices have fallen, indicating a possible slowdown in the market.
Looking at Q1, SOL was one of the biggest losers among capped altcoins, down nearly 35%. And yet, under the weakness of the price, the interest rate of the stablecoin market grew by about 5% – An indication of the clear difference between the chain’s operations and the market’s performance.
To support it, Solana pa On-chain signals also show the growth of network usage.
The total number of transactions on the Internet recently exceeded 500 billion, ahead of the 13 blockchains combined, showing that Solana is still going to work on the chain. Unique addresses on the network have also been on the rise, proving that the environment is working even if the cost is not improving.
In short, when you compare online services to market performance, Solana’s fundamentals remain strong. This type of difference usually indicates a shortfall, indicating that SOL may be preparing for a refund.
The real issue, however, is stablecoin mobility. Naturally, the big question is – Will the amount of money be the biggest source of FOMO for SOL this cycle?
Stablecoin entry is boosting Solana’s DeFi this cycle
The acceleration of DeFi growth is evident through several key sectors, and stablecoins are at the forefront.
The idea is simple – the higher the amount of money on the chain, the more money starts to flow through the network, promoting services and consumption. On a larger scale, the Real World Asset (RWA) sector continues to outpace many other areas, and Solana is no exception.
From a technical perspective, even with Q1 price weakness, Solana closed the quarter with its total RWA value hitting $2 billion – Marking a QoQ jump of 40%. Add in latest partnership with SoFiand it is clear that Solana can lean smartly in the DeFi competition, which can become more and more popular on the network and is very successful.
Based on this, a recent USDC coin offering at Solana it doesn’t feel like a random event.
In fact, with a strong network, use beyond other chains, partnerships expanding stablecoin use cases, and financial success in key areas of growth, it is clear that Circle is positioning USDC as a central driver for Solana.
Therefore, this would make money (not cost) the main driver of FOMO for SOL in this strategy.
Brief Summary
- Despite weak prices, strong supply chain activity, rising USDC, and growing network usage point to Solana’s fundamentals and potential cost reductions.
- RWA value hitting $2 billion, plus smart move like SoFi deal, put USDC money as FOMO trigger for SOL.
