The supply of stablecoins on the Solana blockchain has jumped by 112% to reach an all-time high of $11.1 billion. The catalyst for this surge, which topped the previous record set in 2022, was the frenzy surrounding the TRUMP memecoin , according to research firm CCData. Solana has now overtaken Binance Chain, moving up to the No. 3 network by stablecoin supply, behind Ethereum and Tron. In terms of stablecoin usage, Circle’s USDC accounts for 78% of the network supply, with Tether’s USDT under 18%. Solana is notably the reverse of the broader market, where USDT dominates, with about two-thirds market share. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io