Stablecoins: Solana Passes the 5 Billion TVL Mark in 2024
In December 2024, Solana added 1 billion dollars in stablecoins to its total value locked (TVL)! Thus bringing the total TVL of stablecoins on its network to about 5 billion dollars. This significant increase highlights the accelerated adoption of stablecoins and the rise of the Solana network in the crypto ecosystem.
Crypto: Solana adds 1 billion USD in stablecoins to its TVL
The majority of this value consists of USDC, which represents nearly 4 billion $ of the total TVL. Tether (USDT) is the second most popular stablecoin on the crypto platform, with about 1 billion $ in TVL. This rapid growth of stablecoins on Solana is a strong indicator of the growing confidence of users and investors in the network.
Since 2023, Solana has established itself as a serious competitor to Ethereum in the field of DeFi. As well as in other applications requiring smart contracts. In 2024, Solana’s TVL increased by about five times! Rising from 1.4 billion dollars to over 8.6 billion dollars. This impressive performance is largely due to the increase in the adoption of stablecoins. But also to the growing interest in crypto tokens on Solana, such as memecoins and AI agent tokens.
Stablecoin: A crucial role in DeFi
Stablecoins play a crucial role in the DeFi ecosystem. They serve as a gateway for users wishing to enter the world of decentralized finance. The total market capitalization of major stablecoins, including USDT, USDC, and Dai (DAI), has increased by over 25 billion dollars since November 2024. This trend is a positive sign for the future of DeFi. For it shows growing adoption and increased confidence in these crypto assets.
In summary, the addition of 1 billion dollars in stablecoins to the Solana network in December 2024 is a major development. It underscores the rapid growth and increasing importance of Solana in the DeFi ecosystem. With a TVL of stablecoins now reaching 5 billion dollars, Solana continues to position itself as a key player in the crypto world.
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.