TRUMP Token Frenzy Drives Solana Stablecoin Supply to $10B, Record DEX Volumes

Quick Summary:

While Circle's USDC led stablecoin growth on Solana, other issuers also expanded their stablecoins to the network recently, one analyst noted.

Solana and its ecosystem of in-built protocols built have become a bustling hub for trading and launching tokens in red-hot, fast-growing crypto sectors such as memecoins and crypto AI agents.

The increased activity was reflected in Solana's native token (SOL) price, posting the largest gain through this week with 20% among the broad-market CoinDesk 20 Index members, vastly outperforming bitcoin's (BTC) 2% advance.

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Article Details

Author / Journalist: Krisztian Sandor

Category: Crypto

Markets: United StatesCubaHong KongHungary

Topics: Trump Stablecoins DEX Markets Solana

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-24 @ 20:27:26 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 439 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 25410355

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About CoinDesk

Main Topics: Crypto

Official Website: coindesk.com

Update Frequency: 17 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 11 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #8

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