TL;DR
- Solana’s non-USDC and non-USDT stablecoins have surged greater than 10x since January 2025 because the community diversifies its stablecoin combine. Solana’s provide has elevated by greater than 75%.
- USDC leads with 57.43%, USDT with 17.74%, and substitutes are round 25% of Solana provide, with USD1 at 6.77%.
- The IMF stated the hyperlink between stablecoins and mainstream finance would increase progress, however warned that it might disrupt capital flows. USDC and USDT have tripled since 2023 and can attain $260 billion in 2024.
Solana’s stablecoin combine is quickly altering, with on-chain knowledge displaying a greater than 10x enhance in non-USDC and non-USDT tokens since January 2025. Solana’s funds layer is not depending on a single issuer, so the strategic level is diversification. On the time of publication, Solana Stablecoin’s market capitalization was $14.227 billion, rising by 3.47% previously 7 days. USDC nonetheless accounts for 57.43% of the whole stablecoin market, adopted by USDT at round 17.74%, however the remaining is more and more equipped by various tokens which might be increasing the rails of Solana. It additionally reduces focus danger and alerts elevated writer confidence within the ecosystem.
Breaking information: Non-USDC/USDT stablecoin provide has began @Solana Since January 2025, it has elevated roughly 10 occasions. pic.twitter.com/yKJrdzUQqQ
— Token Terminal (@tokenterminal) February 9, 2026
Diversification of stablecoins will reshape Solana’s cost layer
Token share knowledge reveals how rapidly alternate options moved from the margin to the core of Solana’s liquidity. Non-USDC and non-USDT stablecoins have elevated to about 25% of Solana’s complete stablecoin provide, up from about 3% a 12 months in the past. Inside this set, USD1 accounts for about 6.77%, whereas USDG and PYUSD characterize 5.92% and 5.84%. The bottom can also be rising, with Solana stablecoin provide rising by over 75% since January 2025. This is because of DeFi demand and sooner and cheaper transactions. Earlier knowledge cited a December peak of $16.2 billion, highlighting how rapidly provide can considerably reprice.
Diversification would not simply imply extra issuers, it additionally means extra currencies and extra app-native cash. As non-dollar stablecoins and in-app items proliferate, Solana is more and more behaving like a multi-currency funds layer. Along with the greenback token, the community hosts deployments such because the Swiss franc VCHF and the euro EURC. On the appliance facet, Phantom launched CASH and Jupiter launched jupUSD. This reveals that main merchandise acknowledge stablecoins as a built-in characteristic and never simply an exterior plugin. A 12 months in the past, Circle’s points might have threatened the community, however a broader set of publishers has made it extra resilient.
Macro establishments are watching the momentum of stablecoins from each an innovation and danger administration perspective. The IMF has warned that the expansion of stablecoins is being pushed by their hyperlinks to mainstream finance and will disrupt capital flows and speed up forex substitution. It stated that whereas stablecoins will primarily be used to commerce native crypto belongings after which settle in conventional currencies, they may even allow sooner and cheaper cross-border funds and remittances. The fund famous that stablecoins characterize about 7% of the whole cryptocurrency market, and that USDC and USDT have tripled since 2023, reaching a complete of $260 billion and $23 trillion in buying and selling quantity in 2024.
