You Won’t Believe What Happened to Solana After Trump’s Memecoin Frenzy! 🤯

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Oy vey, what a meshuggeneh story, folks! 🤪

  • The supply of stablecoins on Solana jumped by 112% in January to a record high of $11.1 billion, CCData said in a research report on Friday. 💰
  • The surge coincided with the launch of Donald Trump’s memecoin $TRUMP, which caused a wave of inflows to the network, according to the report. 🤑

You won’t believe what happened next! 😲 The supply of stablecoins on Solana jumped by a whopping 112% in January, reaching a record high of $11.1 billion. And guess what? It all happened because of the launch of Donald Trump’s memecoin, $TRUMP! 🤯

Oy, the chutzpah of that man! He’s got the Midas touch, I tell ya! 😂 The trading activity around $TRUMP resulted in record activity on decentralized exchanges (DEXs) and contributed to stablecoin supply on Solana, surpassing its previous record set in 2022 and becoming the third largest network behind Ethereum and Tron. 🤑

But wait, there’s more! 🤩 The market capitalization of all stablecoins has passed $200 billion, having grown by $37 billion since Trump won the U.S. election in November. 💸

And the best part? The domination of Tether’s USDT, the largest stablecoin with a market cap of around $140 billion, has dipped from 67.5% to 64.9% in January, the lowest since May 2023. 😂 Oy, the chutzpah of that Tether, I tell ya!

But who’s the real winner here? Ripple‘s USD, which became the fourth-largest stablecoin by trading volume on centralized exchanges in January. 🤑 Oy, the irony of it all! 😂

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2025-01-31 21:22