Solana flips Ethereum in 7-day stablecoin volume

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Blockchain customers transacted $100 billion in stablecoin quantity on Solana for the primary time. 

As soon as hailed as a so-called “Ethereum killer”, Solana has flipped crypto’s largest altcoin blockchain in stablecoin transaction worth over seven days. The distinction in quantity between Solana and Ethereum was over $13 billion, in keeping with

Stablecoin volumes throughout main blockchains | Supply:

This landmark for Solana (SOL) adopted a flurry of actions on its blockchain starting from an inscriptions craze to memecoin mania with some merchants turning a couple of bucks into six-figure hauls. Airdrops like Jito additionally attracted 1000’s of customers to SOL’s blockchain. 

The curiosity in Solana immediately impacted SOL because the crypto returned to costs not seen since Terra’s collapse in 2022. SOL gained 1,000% final yr, and the digital asset traded above $110 when this report was written.

As curiosity and vital worth appreciation occurred, on-chain buying and selling adopted swimsuit as crypto.information reported. Decentralized exchanges (DEX) on Solana recorded over $28 billion in quantity throughout December alone. The blockchain additionally set new highs for month-to-month lively addresses, with SOL’s market cap surpassing $50 billion.

This surge allowed SOL to leapfrog Ripple’s XRP token because the fifth-largest cryptocurrency in the marketplace. At press time, Solana was on the heels of Binance’s BNB coin and even boasted higher 24-hour buying and selling quantity per Coingecko.

With upcoming token airdrops, extra rewards for SOL members could also be on the way in which. Jupiter, a rising DEX on Solana, is scheduled to launch its native digital foreign money in January.

Solana flips Ethereum in 7-day stablecoin volume - 1
Prime 5 blockchains by market cap | Supply: Coingecko

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