[Grayscale: February Solana On-Chain Stablecoin Trading Volume Hits $650 Billion, Reaching New Highs]

Odaily Planet Daily reports that in February, the on-chain stablecoin trading volume on Solana reached $650 billion, setting a new record and the highest among all blockchains for the month, more than doubling the level before October last year. According to a research report released by Grayscale Investments (data sourced from Allium), the rising demand for retail on-chain payments has significantly boosted stablecoin activity. The report points out that Solana is gradually shifting from primarily Meme coin transactions to trading pairs involving SOL and stablecoins, reflecting an increased share of payment use cases. Previously, Standard Chartered also stated that the low transaction cost advantage is helping Solana expand into micro-payments and native internet financial applications. In terms of market share, Solana currently ranks as the fourth-largest stablecoin supply across the network and ranks second only to Ethereum in USDC circulation. Analysts believe that although Ethereum still dominates the stablecoin and RWA sectors, stablecoins may become a key pillar for the maturity of the Solana network. (The Block)