Grayscale: Solana On-Chain Stablecoin Trading Volume Hits New High of $650 Billion in February, Payment Demand Heats Up

Odaily According to a research report released by Grayscale Investments (data sourced from Allium), the surge in stablecoin activity is being driven by growing demand for retail on-chain payments. The report points out that Solana is gradually shifting from on-chain transactions dominated by Meme coins towards SOL and stablecoin trading pairs, reflecting an increase in the proportion of payment-oriented use cases. Previously, Standard Chartered also stated that the advantage of low transaction costs is helping Solana expand into micro-payments and native internet finance application scenarios. In terms of market share, Solana currently holds the fourth-largest stablecoin supply scale across all networks and ranks second only to Ethereum in USDC circulation. Analysis suggests that although Ethereum still dominates the stablecoin and RWA fields, stablecoins may become a crucial pillar for the maturation of the Solana network. (The Block)