Solana stablecoin volume hits record $650 billion in February as onchain payments draw demand, Grayscale says

Solana experienced a record month for stablecoin activity in February, with transaction volume soaring to $650 billion, more than double the previous high set in October. Grayscale research, citing data from Allium, noted this was the highest stablecoin volume recorded on any blockchain that month. Grayscale believes Solana is well-positioned to capture market share in retail stablecoin payments as usage expands, supported by metrics like users, transaction volume, and fees. This shift reflects a broader trend noted by analysts, including Standard Chartered, indicating activity moving from memecoin trading toward SOL-stablecoin pairs, driven by demand for payment infrastructure. While Ethereum remains dominant for stablecoins and tokenized real-world assets, Solana's low transaction costs are enabling new use cases like micropayments, positioning stablecoins centrally in the network's maturity.

(Source：The Block)