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Ahmed Barakat
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In Solana news today, the market cap of stablecoins on the Internet surpassed $15Bn for the first time, according to Token Terminal data. The question that the number is forcing on the table is whether these supply points have the depth of the system or remain connected to the supply chain.
USDC accounts for the majority of Solana’s stablecoin, with DeFiLlama citing USDC at $7.09.Bn and total Solana stablecoins at $15.16Bn. Circle’s production of $250M USDC on Solana is said to be part of a growing portfolio of assets that contribute to the $15Bn growth.
The stablecoin’s run on the Solana network comes as SOL USD rose +3% in the last 24 hours, to $78, with a daily turnover of $1.94Bn.
Solana News: Beyond USDC/USDT and New Stablecoins on the Block
The most important growth is outside the USDC/USDT duopoly. The non-USDC/USDT stablecoin segment on Solana hit a record high of $4.81Bn, driven by USD1 and USDG, according to SolanaFloor data. This sector now makes up about a third of Solana’s total stablecoin market.
USD1, the dollar stablecoin associated with World Liberty Financial, and the USDG (Global Dollar) are driving this growth.
USDT is at $2.91Bn per Solana on DeFiLlama, leaving the remaining $4.81Bn to be distributed to new entrants. The diversity of donors is important: it shows that the dollar amount on Solana is no longer dependent on two parties.
Anchorage Digital’s USDGO reached a value of $1Bn on Solana, a nearly 20x increase since January 2026. USDGO is a USD-backed stablecoin launched on Solana in February 2026.
Two Demand Drivers, One Supply Stack
Solana’s stablecoin boom is being driven by two complementary forces that are mutually reinforcing but not mutually exclusive. The first is the trading activity: The trading volume of DEX on Solana increased by 13.1% week on week, daily transactions increased by 17.3%, and TVL increased by 12.5%, according to DeFiLlama metrics.
Memecoin’s circular activity is creating a real dollar coin, Jupiter and Raydium as the most popular currency. Over $900M in new stablecoins were generated in a single 24-hour window on the Token Terminal.
The second driver is the implementation-layer implementation. BlockEden reports Solana has planned $650Bn in stablecoin exchange volume in February 2026, more than Ethereum and Tron combined. This number is expected to top $15Bn in a few months, meaning that debt repayments have grown since then.
Solana’s DeFi protocols directly benefit from deep stablecoin liquidity, lower spreads, higher transaction costs, and investment pools, all of which come from a large dollar base. The Solana’s strong growth in mechanical propertieswhich reached a value of $ 6Bn in Q2, it combines the following: the return of real world assets and stablecoins are integrated on the same chain.
Control is not circular here. Stablecoin legislation is moving through Congress, including a The Crypto Clarity Act was discussed for a Senate voteit can create clear rules of the road for stablecoin providers. A clear federal standard would facilitate institutionalization and remove the uncertainty that has kept some financial desks from being used by the public.
What the $15Bn Figure Does is Uncertain
In other Solana news, the $15Bn investment confirms that Solana has raised enough money to solve a large DeFi and stable operation without any issuer.
It does not prove that these foundations are incompatible. An important part of the stablecoin that is being sought after on Solana is memecoin—a neighborhood, a virtual currency that moves when trading interest is around.
The non-USDC/USDT sector’s 15x growth since January 2025 is impressive, but some of it reflects the introduction of other assets (early February’s USDGO, USD1 expansion) rather than organic accumulation.
The reliable bear is the freezing cycle of memecoin combined with stablecoin regulation, which can slow down both USDC trading and USDGO transactions.
The bull case is that the need to establish institutions, demonstrated by USDGO’s trajectory and the market volume of the Solana stablecoin, provides a stable environment that continues due to the decline in sales.
Circle’s meeting cadence and Anchorage Digital’s institutional positions suggest that one of the biggest contributors is betting.
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