The total supply of stablecoins on Solana has increased by over 73% since mid-January, reaching $11.1 billion, according to a report by CCData. This surge in stablecoin supply is largely attributed to heightened network activity following the launch of Donald Trump's memecoin, $TRUMP, on January 18. The memecoin was launched in conjunction with the Official Melania token, resulting in significant trading volume and congestion on the Solana network. Following the launch, more than 200,000 new onchain users were reported. USDC, Circle’s stablecoin, dominates with nearly 78% of the supply on Solana, while Tether commands about 12%. As of January 30, USDC's market capitalization is approximately $50 billion, making it the second most popular stablecoin after USDT, which has around $140 billion. This growth reflects a wider trend of capital inflow into the Solana network, particularly amidst ongoing scrutiny of Tether's financial practices and movements within the crypto market.

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