What’s Causing the Solana Stablecoin Network Growth?
Due to its fast and low-cost transactions, Solana has become home to launching key meme coin projects. In 2024, the network saw heavy meme coin activity and the strong trading euphoria around these crypto tokens created further demand for stablecoins.

What triggered the massive stablecoin surge in January this month was the launch of the Official Trump (TRUMP) memecoin, and the Official Melania (MELANIA) token. These two crypto triggered massive hype and demand while sucking out liquidity from the rest of the crypto market. Amid strong demand, Circle minted nearly $8 billion USDC this month itself, growing its market cap by nearly 20%.