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Solana’s recent surge in stablecoin supply highlights a transformative phase in its DeFi landscape, with implications that could extend to larger market dynamics.
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The growth in Solana’s total value locked (TVL) and decentralized exchange (DEX) volume underscores its competitive traction against Ethereum and BNB Chain, early indicators of a potential rally.
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According to industry expert data from COINOTAG, “the bullish momentum in SOL is reinforced by increasing institutional interest and strong on-chain performance.”
Solana’s stablecoin market cap recently hit $13 billion, driving a promising bullish trend that may propel its price toward $220. Here’s a detailed insight.
Solana’s Stablecoin Market Cap Hits $13 Billion
Solana’s stablecoin supply has skyrocketed by 156% in 2025, surging past $13 billion to hit a new all-time high. This revenue boost reflects an extraordinary acceleration in adoption and utility, positioning Solana as a notable player in the stablecoin market.
The surge in stablecoins on Solana indicates a strong demand for transactions processed at lightning speed, enhancing liquidity and user experience.
Circle’s USDC (USDC) remains the stablecoin of choice for Solana users, commanding a remarkable 77% market share. Such dominance emphasizes the trust and preference users have in USDC within Solana’s network.
Historically, increased stablecoin inflows have correlated with price rallies of SOL, exemplified by the price surge between December 2023 and August 2024, where SOL experienced a considerable increase of 230% alongside a rise in stablecoin inflows from $1.55 billion to $4.06 billion.
Solana TVL and Transaction Count on the Rise
Solana has recently secured its status as the second-largest blockchain in terms of total value locked (TVL) and leads the market in decentralized exchange volumes.
Between April 9 and May 6, Solana’s TVL surged from $6.1 billion to $7.65 billion, a significant 25% increase in under a month. This growth signals strong user confidence and engagement within its ecosystem.
Moreover, there was a notable 44% increase in deposits on Sanctum, a leading liquid staking application, complemented by growth indicators on platforms like Jito and Kamino.
Solana’s daily transaction count skyrocketed by 25% over the past month, reaching 57.77 million transactions. This consistent growth not only showcases user retention but also Solana’s role as a major contender against Ethereum and BNB Chain.
With daily DEX volumes hitting $2.61 billion, Solana commands a 27.7% share of the DEX volume market, putting it ahead of BNB Chain and Ethereum, both of which have been trading at 18% DEX volume share.
SOL Bull Flag Points to $220
In a recent analysis, SOL has established a bull flag pattern within the daily trading timeframe, a quintessential indicator for bullish trends.
A bull flag pattern commonly emerges following a robust price rise, where the price consolidates in a narrowing range. Analysts have indicated that upon breaking the upper trendline, SOL’s price could reach upwards of $220, representing an estimated 53% increase from the current valuation.
According to crypto analyst RisHad, “SOL must maintain a support range between $120-$130 to enhance the likelihood of approaching price targets of $178 and higher.”
Conclusion
The recent developments surrounding Solana, marked by a soaring stablecoin market cap and robust growth in TVL and daily transactions, could redefine its competitive position in the cryptocurrency market. With bullish patterns forming and increasing institutional interest, investors should closely monitor SOL’s movements as it seeks potential new highs.
