Solana Stablecoin Supply Grows 6% in the Past Week as $USD1 Supply Reaches $939M

Stablecoin activity on Solana has intensified over the past seven days, marked by a clear increase in both supply and inflows. Onchain data shows that Solana’s total stablecoin supply has risen by 6% during the last week. 

In the same period, the network recorded approximately $502 million in net stablecoin inflows according to Artemis data. This movement contrasts sharply with Ethereum, which saw roughly $836.5 million in stablecoin outflows. The divergence suggests that capital has recently favored Solana as a settlement and liquidity layer.

A significant share of this growth comes from $USD1, the stablecoin issued by World Liberty Financial. The $USD1 supply on Solana increased by about 45% over the past week, lifting its market capitalization on the network to approximately $939 million. The rapid increase builds on momentum that began a few weeks ago, when $USD1 emerged as one of the fastest-growing stablecoins in Solana’s decentralized finance ecosystem.

$USD1’s Role in Recent Momentum

$USD1 entered 2026 with strong growth after several months of muted adoption following its Solana deployment in late 2025. In January, its supply surged sharply after multiple DeFi integrations and incentive campaigns. By late January, $USD1 had nearly tripled its Solana-based supply over a 30-day period, outpacing most other stablecoins on the network.

Although $USD1 still lacks full coverage across all major Solana lending venues, recent integrations have expanded its use in trading and yield strategies. Its growth also reflects a broader diversification trend, as alternative dollar-pegged assets continue to gain ground on the network, with Token Terminal data showing a 10x increase in such stablecoins over the past year.

A recent Forbes report stated that 87% of the $USD1 supply, approximately $4.7 billion, is held in wallets controlled by Binance. The publication suggested that this concentration points to a growing relationship between World Liberty Finance, backed by the Trump family, and Binance, whose co-founder, Changpeng “CZ” Zhao, received a presidential pardon in 2025. In response, CZ clarified that Binance users typically account for the largest share of most stablecoin supplies among centralized exchanges, dismissing the observation as “not news.”

Minting Activity Adds to Supply Growth

Supply expansion has not been limited to $USD1. Circle, issuer of the $USDC stablecoin, minted approximately 1 billion $USDC on Solana within the last 24 hours.

While $USDC remains the dominant stablecoin on the network, its continued minting reinforces the scale at which Solana now operates as a stablecoin settlement layer.

Despite the bear market vibes and $SOL crashing below $90, stablecoin adoption seems to be unstoppable, with stablecoin supply near all-time high. At the time of writing, Solana’s total stablecoin market capitalization stands above $15.8 billion.

Regulatory and Institutional Context

The recent spike in activity has unfolded alongside renewed regulatory attention in the United States. The White House hosted a second round of discussions on stablecoin yields today at 2:30 pm ET, bringing together major banks such as JPMorgan and crypto firms, including Coinbase. These talks follow earlier meetings that explored how stablecoins fit within existing financial frameworks and how yields should be treated.

Regulators have also taken concrete steps. The Commodity Futures Trading Commission has expanded its list of eligible tokenized collateral to include stablecoins issued by national trust banks.

The agency updated its definition of a payment stablecoin under its new eligible collateral framework, signaling a willingness to integrate compliant stablecoins more directly into regulated markets.

Solana’s Position in Shifting Capital Flows

The contrast between Solana’s inflows and Ethereum’s outflows over the past week highlights how users and institutions continue to reassess where they hold and move stable liquidity. Billions of dollars in stablecoins currently sit in Ethereum’s DeFi ecosystem, where yields often range near 3% APY.

Solana’s DeFi ecosystem frequently offers meaningfully higher yields, which represents a factor drawing stablecoin liquidity and active capital from Ethereum to Solana. Solana’s low transaction costs and fast settlement times have also made it attractive for high-frequency transfers and DeFi activity.

As more issuers and regulators focus on compliant stablecoins, the network has positioned itself as a practical venue for both traditional and crypto-native participants.

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