According to new data from DefiLlama platform, in December 2024, $1 billion worth of stablecoins were added to Solana network, primarily USDC. This influx of capital indicates the accelerated adoption of stablecoins and significant growth of Solana network in 2024, especially in DeFi sector. Currently, the total value of locked stablecoins on Solana network reaches around $5 billion, with nearly $4 billion being USDC. Following that, Tether (USDT) is the second popular stablecoin on Solana with almost $1 billion value. As of December 31, the total market value of USDT and USDC across blockchain networks has been approximately $137 billion and $44 billion respectively. The stablecoin market value has seen a significant increase after Donald Trump’s victory in the US presidential election in November. Many believe Trump’s victory will benefit this industry. Data shows that since November, the total market value of top three stablecoins – Tether, USDC, and DAI – has grown over $25 billion. This is particularly positive for the DeFi sector as stablecoins serve as the gateway to the decentralized financial world. In recent years, Solana has emerged as a serious competitor to Ethereum in DeFi and other smart contract-requiring use cases. In 2024, the total value locked (TVL) in Solana ecosystem has increased from around $1.4 billion to over $8.6 billion. Digital asset management company Grayscale also added Jupiter and Gito, two tokens related to Solana’s DeFi sector, to the list of 20 tokens to watch in the first quarter of 2025. You can track the prices of all tokens and cryptocurrencies live on the real-time digital asset price page.
