Solana Stablecoins Jump 50% in 3 Months, Gen Act Drama

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Key Takeaways

Why is Solana seeing record stablecoin inflows?

Let me tell you what happened: the GENIUS Act handed stablecoins a shiny new permission slip, and boom-$3 billion showed up like a surprise doughnut at a staff meeting, boosting supply to $15 billion. It’s Solana cosplay for grown-ups, and yes, it’s deliciously chaotic. 😂💸

Will this impact SOL’s price trend?

If SOL breaks its $222 EMA resistance, it could bounce back to around $235 in the near term-like a celebrity returning to the red carpet after a dramatic exit. 🪙📈

With crypto usage at record levels, stablecoins are trending harder than a TV finale cliffhanger.

Their combined market cap climbed 1.44% to $303.18 billion over the past week and 6.05% over the last 30 days, rising from $285.7 billion, according to DefiLlama. 💎

Amid this stablecoin market growth, supply on the Solana chain has outpaced all other blockchains. It’s basically the popular kid who showed up early and never left the gym. 🏃‍♂️💨

Solana outpaces peers in stablecoin growth

Solana [SOL] remained the third-largest chain by stablecoin supply, but it has recorded the fastest growth over the last months. This surge is fueled by the GENIUS Act, which was passed three months ago, as per Danny Nelson. 🧪⚡

With the Genesis Act offering legal clarity over stablecoin issuance and distributions, their usage has surged, with the Solana blockchain leading the way.

When the Act was signed on the 18th of July, Solana’s stablecoin supply stood at $10 billion, a 50% rise in just three months since then. Shocking, I know. 😱

Solana’s stablecoin adoption strengthened further as stablecoin addresses increased 7.55% to 4 million, while transaction count rose 14.6% to 208 million in thirty days. And if you’re counting, that’s some serious wallet cardio. 💪💳

Its Adjusted Transaction Volume also spiked 37.69% to $310.6 billion, signaling a rising network utility. 🚀

Competitors still hold an upper hand

While Solana’s Stablecoin Supply experienced explosive growth, Ethereum [ETH] remained way ahead. It’s like the class president with a bigger budget. Ethereum maintains its lead, holding 53.67% of the global stablecoin supply ($172 billion), while TRON [TRX] follows with 25.79% or $77 billion. The headliner shelf, if you will. 🏛️

Solana ranks third at 4.99%, but its growth rate now outpaces both-because who doesn’t love a good underdog story with a sprinkle of glitter? ✨

SOL price reacts to rising network activity

AMBCrypto observed that the surge in stablecoin supply coincided with significant gains on SOL. It’s like a miracle cardio plan: more stablecoins, more price gains, less cardio (for me, anyway). 😂

The token climbed from $173 to $253 before cooling near $219 at press time, according to TradingView.

SOL traded above its long-term moving averages, maintaining a bullish setup. However, short-term resistance looms at the 20-day EMA of $222. Break it, and SOL could retest $235; stay below, and it might drift toward the 50-day EMA of $213. It’s basically a soap opera with moving averages. 🧼📈

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2025-10-08 14:05