- Solana’s stablecoin supply grew 146% in Q1, hitting $12.5B across its DeFi apps.
- Solana’s TVL jumped 14% to 53.8M SOL, surpassing BNB Chain by $780 million.
- Despite SOL’s 9% dip, Solana holds 24% of DEX volume, second only to Ethereum.
Solana’s blockchain network recorded a 146% surge in stablecoin supply during the first quarter of 2025, reaching $12.5 billion. The growth placed Solana among the top five fastest-expanding networks, reinforcing its position in the decentralized finance (DeFi) space.
Institutional Demand Boosts Solana’s Stablecoin Growth
According to a report by Cointelegraph, Solana’s $12.5 billion stablecoin milestone reflects increased institutional adoption and rising DeFi participation. This growth occurred despite SOL’s 9% drop in price between March 28 and April 4, underlining strong user confidence in the network’s stability.
Besides Solana, Morph, Cronos, Stacks, and Bob posted strong growth, while Algorand, zkSync, and Hedera nearly doubled their stablecoin supplies. These platforms are drawing users with faster transactions, scalable infrastructure, and competitive fees. This broader trend shows rising demand for blockchain-based stable finance ecosystems.
Stablecoin expansion often signals increased liquidity and network usage, particularly for DeFi apps and Web3 payments. Solana’s consistent infrastructure upgrades, reduced gas fees, and scalability helped drive demand across lending protocols and decentralized exchanges during the quarter.
TVL and DEX Volumes Reveal Strength Beyond Price Drops
While SOL’s token price dipped, its total value locked (TVL) reached 53.8 million SOL on April 2, marking a 14% month-over-month increase. That figure translates to roughly $6.5 billion, surpassing BNB Chain’s TVL by over $780 million based on DefiLlama data below.
DEX volumes also held strong, with Solana capturing 24% of the monthly market share. In contrast, BNB Chain secured 12% and Base maintained 10%. Despite memecoin activity slowing, Solana’s core ecosystem outperformed rivals by focusing on reliable throughput and Web3-native tools.
Solana now trails only Ethereum in DApp activity, supported by leading platforms like Jupiter, Jito, and Kamino. Despite concerns over maximum extractable value (MEV), developers and users continue building on Solana due to its efficient base layer and ecosystem-wide support for scalability and innovation.
