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- Solana’s stablecoin supply surged 50% in three months after the GENIUS Act.
- Network activity and transaction volume hit record highs on Solana.
- SOL price eyes $235 if it breaks above the $222 EMA resistance.
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Solana’s network has emerged as a major growth leader in the stablecoin market, outpacing Ethereum and TRON in supply expansion. According to DeFiLlama, the total stablecoin market capitalization rose 1.44% in the past week and 6.05% over the last month, reaching $303.18 billion. While Ethereum still holds the majority share, Solana’s pace is unmatched — a clear sign of rising demand for faster and cheaper transactions.
The GENIUS Act, passed three months ago, is largely credited for this momentum. The law provided long-awaited legal clarity for stablecoin issuance and distribution, fueling confidence among issuers and users. Since the Act was signed on July 18, Solana’s stablecoin supply has surged from $10 billion — a 50% increase in just three months.
Record Growth in Solana Network Activity
Alongside the surge in stablecoin supply, Solana’s network usage has exploded. Data from Artemis shows stablecoin addresses on Solana jumped 7.55% to 4 million, while monthly transactions climbed 14.6% to 208 million. Adjusted transaction volume spiked nearly 38% to $310.6 billion, reflecting stronger user engagement and growing institutional use cases.
Although Ethereum still dominates with 53.67% of the global stablecoin market ($172 billion) and TRON holds 25.79% ($77 billion), Solana’s 4.99% share is expanding rapidly. Its growth trajectory suggests a shifting balance as users chase faster settlement speeds and lower costs.
SOL Price Poised for Breakout
SOL’s price action mirrors this network surge. The token recently rallied from $173 to $253 before stabilizing near $219, according to TradingView. Analysts note that SOL trades above its key moving averages, keeping the broader trend bullish.
However, short-term resistance sits near the 20-day EMA at $222. A breakout above that level could push SOL toward $235, while a dip below the 50-day EMA ($213) might signal short-term cooling.
The Bottom Line
Solana’s accelerating stablecoin growth and network activity highlight its growing role in the broader crypto economy. If SOL clears the $222 resistance, it could strengthen its momentum and reinforce investor confidence in the network’s long-term potential.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Solana Company Tops $500M in SOL Holdings
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