Foreign media “Unchained” cited data from the cryptocurrency data analysis platform Artemis, showing that Solana’s daily stablecoin transfer volume from June to December 2023 has significantly increased, reaching $16.6 billion, surpassing other mainstream blockchain networks, including Ethereum, Tron, BNB Chain, and Arbitrum.
Since the beginning of this month, Solana’s stablecoin transfer volume has surged by about 600%, with the transfer volume reaching around $2.4 billion at that time.
Historical data indicates that Solana’s daily stablecoin transfer volume last year ranged from $33 million to $743 million, never exceeding $1 billion. Even during the bull market in 2021, Solana’s daily stablecoin transfer volume did not exceed $7.1 billion, less than half of the current month’s record high.
The growth in Solana’s stablecoin transfer volume highlights the increased activity and liquidity in the blockchain ecosystem over the past year. Nirmal Krishnan, Director of Development at Artemis, wrote in an email to “Unchained”:
Furthermore, Nirmal Krishnan also added that meme coins like BONK and WIF have never seen such scenes on Solana before, creating speculative space for many retail activities and leading to more on-chain activities, resulting in Solana reaching the highest daily active address count since the summer of ’22.