In January, the transfer volume of stablecoins on the layer-1 Solana blockchain has reached a record high, steadily increasing over time.
According to Artemis, a blockchain analytics platform, the stablecoin transfer volume on Solana has already surpassed $300 billion.
This surpasses the previous record of $297 billion in December 2023. The current transfer volume for January stands at $303 billion, which is a significant increase from the $11.56 billion in January 2023, marking a 2,520% growth.
Solana’s share in the stablecoin market currently stands at nearly 32%, a significant jump from its 1.2% share just a year ago. Stablecoin activity on Solana has been on the rise since October 2023, with a 650% increase in transfer volume.
While Ethereum remains the dominant player in the industry with a stablecoin transfer volume of $317 billion and a market share of over 33%, Solana is quickly gaining ground.
