Token Terminal: Non-USDC/USDT Stablecoins Now Account for 20% of Solana's Total Supply

Odaily News Token Terminal posted on platform X, stating that stablecoins other than USDC and USDT currently account for approximately 20% of Solana's total stablecoin supply, a significant increase from 3% a year ago. Beyond mainstream varieties, Solana currently hosts deployments of PYUSD, USDG, USD1, and over ten other stablecoins, including non-USD stablecoins such as the Swiss Franc (VCHF) and the Euro (EURC).

Native Solana applications are also launching their own stablecoins, such as wallet Phantom introducing CASH and Jupiter launching jupUSD. This indicates that the Solana application ecosystem has matured, with native teams expanding their products into various financial offerings. For Solana, this diversification reduces concentration risk and reflects issuer confidence. A year ago, regulatory issues at Circle could have threatened Solana's entire stablecoin foundation, whereas today's diverse issuers make the network more resilient. The choice of new issuers to deploy on Solana also demonstrates confidence in its ecosystem.