Stablecoins are increasingly positioning themselves as core infrastructure for digital finance, and the latest data shows that Solana is one of the biggest beneficiaries. The market capitalization of stablecoins on this layer-1 Blockchain surged by approximately $900 million within 24 hours, pushing the total to $15.3 billion.

According to data from analytics platform DefiLlama, this marks one of the largest single-day increases in the history of the Solana ecosystem. The surge comes as stablecoins continue to evolve from niche crypto instruments into a key payment layer of the digital economy.

A new stablecoin sparks the surge

The immediate catalyst behind the spike was the launch of JupUSD, a stablecoin introduced by decentralized platform Jupiter in collaboration with synthetic stablecoin issuer Ethena. The launch quickly attracted significant capital flows onto the network.

Solana’s stablecoin ecosystem remains dominated by USDC, issued by Circle, which accounts for more than 67% of all stablecoin liquidity on the network. The dominance of a regulated issuer continues to boost confidence among institutional investors.

Solana’s ambition to become an internet capital market

The rapid expansion of stablecoins reflects Solana’s broader ambition to position itself as a hub for so-called internet capital markets, where value and risk move entirely through on-chain infrastructure without traditional intermediaries.

In this model, stablecoins function as essential financial plumbing, enabling fast settlement and deep liquidity across decentralized applications. As more assets migrate on-chain, stable digital currencies are becoming the connective tissue of the entire system.

Regulation reshapes the landscape

Stablecoins are also at the center of major regulatory developments. According to RWA.xyz, the total market capitalization of fiat-backed stablecoins is approaching $300 billion.

A key milestone is the U.S. GENIUS Act, signed into law in July 2025 by President Donald Trump. The legislation requires regulated payment stablecoins to be fully backed by highly liquid assets, effectively sidelining algorithmic or under-collateralized models.

The law also excludes algorithmic stablecoins that rely on software mechanisms or market incentives to maintain their peg. Another controversial provision bans revenue-sharing with users, fueling debate over the future role of banks and fintech firms in the digital economy.

Sources:

https://www.fxleaders.com/news/2026/01/08/daily-crypto-signals-bitcoin-accumulation-surges-solana-stablecoin-market-explodes-by-900m/

https://defillama.com/chain/solana?utm_source=chatgpt.com&tvl=false

https://x.com/JupiterExchange/status/2008194274362544603

https://rwa.xyz