Solana’s stablecoin supply has just skyrocketed past $10 billion, hitting a brand-new all-time high. Big milestone for the network.
What’s behind this growth? And what’s next?
Now, here’s the juicy part, historical trends suggest that this massive influx of stablecoins could lead to a bigger price jump for $SOL.
Some analysts are even speculating that we could see $SOL will go to around $360 by March 2025. Sounds exciting, right?
But before we get too carried away, let’s keep our feet on the ground, because there’s still a bit of caution in the air.
Despite all this bullish momentum, stablecoin lending yields are still pretty low, hinting that we might not be at peak excitement just yet.
The bad news and the good news: the numbers don’t lie
In just one week, Solana’s stablecoin supply has jumped 77%, bringing its market cap to $10.7 billion.
This jump is largely thanks to some memecoin launches linked to the White House cabal in $TRUMP and $MELANIA, which have attracted billions in new investments and brought in hundreds of thousands of fresh users into the Solana ecosystem.
With trading started to heating up like never before, traders are gearing up for what many believe will be an epic 2025 bull run.
DefiLlama data shows that Circle’s USDC remains the go-to stablecoin for Solana, dominating 77.23% of the market share.
Historical gains ahead?
Back on September, 2021, Solana saw its stablecoin supply spike by 93% over a week. What happened next?
The price of $SOL shot up by nearly 46%, climbing from around $177 to an all-time high of $258 within two months.
If history repeats itself, and let’s be honest, it loves to do that, or at least, rhymes, $SOL could be looking at another 45% price boost following this latest growth in stablecoins.
And just when you thought it couldn’t get any better, this hike could coincide with the anticipated launch of the $SOL futures ETF.
Senior Bloomberg Analyst Eric Balchunas predicts that this could hit the market by mid-March.
🚨JUST IN: Senior Bloomberg ETF analyst @EricBalchunas said a Solana futures ETF could hit the market by mid-March, amidst CME Group announcing SOL futures contracts set to go live on February 10th. pic.twitter.com/Kmi0UqTGSj
— SolanaFloor (@SolanaFloor) January 22, 2025
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