According to data from Artemis, a cryptocurrency data analytics platform, cited by the media outlet “Unchained,” Solana’s daily stablecoin transfer volume has significantly increased from June to December 2023, reaching $16.6 billion. This surpasses other mainstream blockchain networks, including Ethereum, Tron, BNB Chain, and Arbitrum.
Since the beginning of this month, Solana’s stablecoin transfer volume has skyrocketed by approximately 600%, with a transfer volume of around $2.4 billion at that time.
Based on historical data, Solana’s daily stablecoin transfer volume last year ranged from $33 million to $743 million, never exceeding $1 billion. Even during the bullish market period in 2021, Solana’s daily stablecoin transfer volume reached a maximum of only $7.1 billion, less than half of this month’s record high.
The growth in Solana’s stablecoin transfer volume highlights the increased activity and liquidity in its blockchain ecosystem over the past year. Nirmal Krishnan, the 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 a scenario on Solana before, creating speculative opportunities for many retail activities and leading to more on-chain activities. This has resulted in Solana reaching its highest daily active address count since the summer of ’22.
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