Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12837
Markets: 99741
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12837
Cryptocurrencies
60.66%
Bitcoin Share
CoinDesk 2025-01-31 18:15:09

Solana Saw 112% Surge in Stablecoin Supply in January With TRUMP Memecoin Frenzy: CCData

Solana Saw 112% Surge in Stablecoin Supply in January With TRUMP Memecoin Frenzy: CCData

The supply of stablecoins on Solana jumped by 112% in January to a record high of $11.1 billion, CCData (a subsidiary of CoinDesk) said in a research report on Friday. The surge coincided with the launch of Donald Trump's memecoin $TRUMP, which caused a wave of inflows to the network, according to the report. Stablecoin supply has risen by 73.6% since $TRUMP launched on Jan. 18. Trading activity around $TRUMP resulted in record activity on decentralized exchanges (DEXs) and contributed to stablecoin supply on Solana, surpassing its previous record set in 2022 and becoming the third largest network behind Ethereum and Tron, based on this metric. The report also said that the market capitalization of all stablecoins has passed $200 billion , having grown by $37 billion since Trump won the U.S. election in November. The increase in supply has also coincided with a decrease in the domination of Tether's USDT, the largest stablecoin with a market cap of around $140 billion. According to CCData, its share of the sector dipped from 67.5% to 64.9% in January, the lowest since May 2023. One such beneficiary of this trend appears to be Ripple's USD, which became the fourth-largest stablecoin by trading volume on centralized exchanges in January, the report said. Ripple spent much of the last few years locked in a legal battle with the U.S. Securities and Exchange Commission (SEC). The "Trump effect" has helped native token XRP jump by 33% to trade at over $3.10 this month, and CEO Brad Garlinghouse has spoken of a bump in U.S.-based deals and hiring as well. Read More: Grayscale Files SEC Proposal to Convert XRP Trust Into ETF

Most Read News



Cryptohopper
Market Cap
24h Vol
60.66%
Bitcoin Share
355
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.