February recorded a new milestone for stablecoin activity on the Solana blockchain, with total transaction volume reaching $650 billion, amid the increasing maturity of on-chain retail payments infrastructure.
This figure is more than double the previous peak set in October and is the largest recorded stablecoin transaction volume on any blockchain this month, according to a new report from Grayscale led by Zach Pandl, citing data from Allium.
Stablecoins — typically pegged to USD — are becoming a key driver of blockchain usage. According to Grayscale’s assessment, Solana is well-positioned to increase its market share in retail stablecoin payments as demand continues to grow.
Pandl stated that Solana currently leads in several key blockchain adoption metrics such as user numbers, transaction volume, and transaction fees. This assessment reflects a trend that many analysts have previously highlighted.
Transition to On-Chain Payments
Earlier this year, Standard Chartered noted that activity on the Solana network is gradually shifting from lively memecoin trading on decentralized exchanges to trading pairs between SOL and stablecoins. Analysts emphasized the increasing demand for payment infrastructure over speculative on-chain capital flows.
According to Standard Chartered, Solana’s low transaction costs are opening up new use cases, including micropayments and purely internet-based financial applications.
Data on stablecoin market share by blockchain also supports this trend. Solana currently holds the fourth-largest share of total stablecoin supply across the market and ranks second — after Ethereum — in circulating USDC.
Analysts believe that Solana’s shift from memecoin-driven transaction volume to real-world payment flows will take more time. However, stablecoins are likely to play a central role in the network’s maturation phase. Meanwhile, Ethereum continues to maintain its dominant position in stablecoins and tokenized real assets, according to forecasts from major organizations.
The Dragon and the Snake
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bless Project Transfers 300M $BLESS Worth $3.83M Across Solana and BSC in 9 Hours
The Bless project transferred 300 million $BLESS tokens worth $3.83 million across Solana and BSC. 200 million were deposited into a CEX, and 56.76 million have been sold on BSC, with more sales ongoing.
GateNews47m ago
Solana and Ripple's 'XRP' Posts Highlight $100M Wrapped XRP Integration
Solana's recent post about "XRP" led to Ripple's reply, influencing XRP's price. This comes amid the launch of wrapped XRP on Solana through Hex Trust and LayerZero, attracting significant liquidity, highlighting an evolving collaboration in the crypto space.
GateNews58m ago
Solana-Backed Super PAC Plans $8M to Support Jon Husted in Ohio Senate Race
The Sentinel Action Fund, supported by the Solana Foundation, will invest $8 million to aid Republican Senator Jon Husted in the Ohio Senate race against Sherrod Brown, who opposes crypto. Husted is known for advocating pro-crypto legislation.
GateNews7h ago
Bitcoin, Ethereum and Solana ETFs Record Positive Net Inflows on April 15
Gate News message, according to the April 15 update, Bitcoin ETFs recorded a single-day net inflow of 4,566 BTC (approximately $337.41 million) and a 7-day net inflow of 6,753 BTC (approximately $499.04 million). Ethereum ETFs saw a single-day net inflow of 23,405 ETH (approximately $54.37 million)
GateNews22h ago
Y Combinator USDC investment on Solana
Y Combinator has completed its first venture capital investment paid entirely in stablecoins, settling $500,000 in USDC on the Solana blockchain for prediction-markets startup Totalis. The transaction, reported on April 13, 2026, marks a concrete shift in how the world’s most influential startup
CoincuInsights04-15 09:07
Circle Mints 750M USDC on Solana in Past 24 Hours
Gate News message, April 15 — Stablecoin issuer Circle minted 750 million USDC on the Solana blockchain in the past 24 hours.
GateNews04-15 05:48
