Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BITCOIN NEWS»Solana stablecoin trading volume reaches record high of $300 billion in January
BITCOIN NEWS

Solana stablecoin trading volume reaches record high of $300 billion in January

By Crypto FlexsJanuary 21, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Solana stablecoin trading volume reaches record high of 0 billion in January
Share
Facebook Twitter LinkedIn Pinterest Email

Layer 1 network Solana hit a significant milestone in terms of stablecoin transfer volume this month, according to the latest on-chain data.

Solana overtakes Tron in stablecoin transfer volume

Solana’s stablecoin transfer volume already surpassed $300 billion in January, according to data from blockchain analytics platform Artemis. This is the highest transaction volume ever recorded by a stablecoin on a layer-1 blockchain in a single month.

To put these numbers into context, the Solana network recorded $297 billion in stablecoin trading volume throughout December. Meanwhile, the blockchain’s stablecoin transfer volume was approximately $11.56 billion in January 2023, reflecting growth of more than 2,500% last year.

Stablecoin transfer volume across various blockchains in the past year | Source: Artemis

Looking at the chart above, it is clear that Solana’s stablecoin activity has been steadily increasing since October, increasing by over 650% over the past few months. This growth has also impacted the network’s share of the stablecoin market, with Solana currently boasting a market share of approximately 32%.

Unsurprisingly, Ethereum is leading the stablecoin market, with transfers already reaching nearly $317 billion in January. Meanwhile, the Tron network follows Solana in third place with stablecoin volume of approximately $240 billion.

On Thursday, January 18, Paxos announced the launch of USDP, a regulated stablecoin, on the Solana Network. According to DefiLlama data, USDC remains the dominant stablecoin on layer 1 networks with a market capitalization of over $1 billion.

Paxos is excited to share regulated USDP now live. @Solana Blockchain! This integration makes it easier for anyone to access and use the most secure and trusted stablecoin on the market. Learn more here: https://t.co/0j4Kj0yyPk pic.twitter.com/1doexKvVmY

— Paxos (@Paxos) January 18, 2024

SOL Pricing Overview

Despite Solana’s surging network activity, the price performance of its native token SOL has weakened somewhat over the past few weeks. As of this writing, the value of the Solana token is $92, down 0.6% in the last 24 hours.

This lackluster performance over the past days highlights the challenges for altcoins since the beginning of the year. After reaching a multi-month high of $124 in late 2023, SOL price has had great difficulty maintaining above $100.

Solana tokens have fallen more than 5% in the past, according to data from CoinGecko. main. Meanwhile, the coin has fallen by about twice that figure since early 2024.

Nonetheless, SOL maintains its position as the 5th largest cryptocurrency in the sector, with a market capitalization of over $40 billion.

Solana

Solana price faces downward pressure on the daily timeframe | Source: SOLUSDT chart on TradingView

Featured image by Dreamstime/Aivaras Sakurovas, TradingView chart

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Expect what XRP ETF is approved by the SEC

September 9, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025
Add A Comment

Comments are closed.

Recent Posts

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Vulnerability or orbit again? BTC has a line at $ 115K

September 16, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025
Most Popular

The U.S. Federal Reserve has listed CBDCs as one of its “core mandates,” warned cryptocurrency advocate Tom Emmer.

March 15, 2024

Analysts said that XRP could fall to $ 1.70.

June 2, 2025

FBI warning against cryptocurrency transfer companies ‘appears’ to be aimed at mixers

April 26, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.