Solana’s stablecoin supply has exceeded US$10 billion for the first time, according to data from DeFiLlama.

This marks a 110% increase since early January, when the supply was US$5.1 billion.

This growth is primarily driven by Circle’s USD Coin (USDC) issuance, with US$3.5 billion minted in the past week.

USDC now accounts for nearly 80% of Solana’s stablecoin supply, which has risen to US$8 billion from US$4.2 billion earlier this month.

Tether’s USDT has also contributed significantly, adding US$1.96 billion to Solana’s stablecoin ecosystem.

This surge aligns with trends in decentralized finance (DeFi) and rising trading volume, particularly from memecoin activity over the past year.