Gray Scale: In February, Solana on-chain stablecoin trading volume reached a new high of $650 billion, with increasing payment demand

MarsBitNews · 2026-03-04T14:47:10+00:00

Solana's on-chain stablecoin trading volume reaches $650 billion, setting a new record and reflecting increased payment demand, gradually shifting from Meme coin trading to stablecoin trading. Solana ranks fourth in the stablecoin market share, with low transaction costs supporting its micro-payment development. Stablecoins are expected to become an important pillar of the Solana network.

MarsBitNews

2026-03-04 14:47:10

Abstract generation in progress

Mars Finance reports that the on-chain stablecoin trading volume on Solana has reached $650 billion, setting a new record high and the highest among all blockchains this month, more than doubling compared to October last year. The rising demand for retail on-chain payments has significantly boosted stablecoin activity. The report indicates that Solana is gradually shifting from meme coin-based on-chain transactions to SOL and stablecoin trading pairs, reflecting an increased share of payment use cases. Previously, Standard Chartered also stated that Solana’s low transaction costs are helping it expand into micro-payments and native internet financial applications. In terms of market share, Solana currently has 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.

SOL8.06%

USDC-0.03%

ETH8.59%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.