Ethereum

Stablecoin

Solana

Jito

Blockchain users transacted $100 billion in stablecoin volume on Solana for the first time.&nbsp; 
Once hailed as a so-called “Ethereum killer”, Solana has flipped crypto’s largest altcoin blockchain in stablecoin transaction value over seven days. The difference in volume between Solana and Ethereum was over $13 billion, according to <a href="https://app.artemis.xyz/stablecoins?granularity=weekly" target="_blank" rel="noreferrer noopener">Artemix.xyz</a>. 
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 <img loading="lazy" decoding="async" width="1024" height="363" src="https://crypto.news/app/uploads/2024/01/Screenshot-142-1024x363.png" alt="Solana" class="wp-image-14233588">
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 Stablecoin volumes across major blockchains | Source: Artemis.xyz
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</figure> 
This landmark for Solana (<a href="https://crypto.news/price/solana/">SOL</a>) followed a flurry of activities on its blockchain ranging from an inscriptions craze to <a href="https://crypto.news/solana-memecoin-silly-dragon-reaches-300-weekly-rise/" data-type="link" data-id="https://crypto.news/solana-memecoin-silly-dragon-reaches-300-weekly-rise/" target="_blank" rel="noreferrer noopener">memecoin</a> mania with some traders turning a few bucks into six-figure hauls. Airdrops like Jito also attracted thousands of users to SOL’s blockchain.&nbsp; 
The interest in Solana directly impacted SOL as the crypto returned to prices not seen since Terra’s collapse in 2022. SOL gained 1,000% last year, and the digital asset traded above $110 when this report was written. 
 You might also like: <a href="https://crypto.news/trader-earns-5-7m-after-investing-30-sol/"> Trader earns $5.7m after investing 30 SOL </a> 
As interest and significant price appreciation occurred, on-chain trading followed suit as crypto.news reported. Decentralized exchanges (DEX) on Solana <a href="https://crypto.news/solana-dex-volume-breaks-28b-in-december/" target="_blank" rel="noreferrer noopener">recorded</a> over $28 billion in volume during December alone. The blockchain also set <a href="https://crypto.news/solana-hits-records-for-monthly-new-and-active-addresses/" target="_blank" rel="noreferrer noopener">new highs</a> for monthly active addresses, with SOL’s market cap surpassing $50 billion. 
This surge allowed SOL to <a href="https://crypto.news/solana-flips-ripples-xrp-in-market-cap-sol-up-9/" target="_blank" rel="noreferrer noopener">leapfrog</a> Ripple’s XRP token as the fifth-largest cryptocurrency on the market. At press time, Solana was on the heels of Binance’s BNB coin and even boasted greater 24-hour trading volume per Coingecko. 
With upcoming token airdrops, more rewards for SOL participants may be on the way. Jupiter, a rising DEX on Solana, is scheduled to launch its native digital currency in January. 
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 <img loading="lazy" decoding="async" width="1024" height="629" src="https://crypto.news/app/uploads/2024/01/Screenshot-143-1-1024x629.png" alt="Solana flips Ethereum in 7-day stablecoin volume - 30" class="wp-image-14233599">
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 Top 5 blockchains by market cap | Source: Coingecko
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</figure> 
 Read more: <a href="https://crypto.news/the-token-that-lived-how-solana-project-rose-from-the-ashes/"> The token that lived: how Solana project rose from the ashes </a>

Solana flips Ethereum in 7-day stablecoin volume

crypto.news

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