- Solana’s stablecoin supply rises 7.11%, reaching $5.89B.
- Circle’s $USDC minting boosts stablecoin influx.
- Kamino Finance, Drift Protocol dominate stablecoin deposits.
Solana’s stablecoin supply has soared to $5.89B, reflecting a growing trend toward stable assets amid market turmoil. The surge, supported by Circle’s $USDC minting, highlights the network’s increasing resilience in uncertain times.
Solana stablecoin peaks
Solana’s stablecoin supply has reached its highest level in over two years, rising by 7.11% to $5.89 billion. This surge comes amid declining $SOL price, which has dropped more than 13% over the past week. As market volatility increases, more traders are rushing to stablecoins, particularly $USDC which they consider as safer assets.
The current supply sits just 5.76% below its all-time high of $6.25 billion, recorded in June 2022. Circle, the issuer of $USDC, has contributed to this development through minting $1 billion in new tokens in 2025. The ecosystem supports a wide range of fiat-pegged stablecoins such as the Euro, Japanese Yen and Australian Dollar.
The rising stablecoin supply signals a risk-off sentiment among Solana DeFi users. However, funds remain within the ecosystem, suggesting that traders are waiting for more favorable conditions to transfer. The introduction of yield-bearing stablecoins such as Solayer’s $sUSD and Ondo Finance’s $USDY also boosts the network’s Total Value Locked (TVL), which exceeds $138 million.
Solana’s DeFi space plays a key role in the growing stablecoin demand. Platforms like Kamino Finance and Drift Protocol have witnessed a surge in stablecoin deposits, with $567 million and $302 million in TVL respectively. These DeFi apps offer lucrative lending yields, further attracting capital to the network.
Yield aggregators such as Lulo Finance have also benefited from the stablecoin influx. Lulo Finance recently surpassed $110 million in Directed Liquidity, tracking deposits that automatically optimize yield for users. This surge shows the increased demand for efficient, high-yield opportunities within Solana’s decentralized finance landscape.
Solana’s growing stablecoin market reflects wider trends in the cryptocurrency space. The Solana ecosystem remains resilient despite volatile market conditions and offers diverse stablecoin options. Traders continue to hold their stablecoins and refuse to cash out into fiat, suggesting confidence in a continued bullish trend for SOL in 2025.
Solana’s growing stablecoin market and DeFi infrastructure have increased the network’s appeal to new and experienced users.The increased flow of assets into SOL-based protocols strengthens its position in the cryptocurrency ecosystem. This growing market is likely to continue attracting attention as conditions change throughout the year.