Solana’s stablecoin ecosystem has experienced a dramatic resurgence in July, with total stablecoin transfers on the network surging by 53% to surpass $215 billion. This growth reflects a broader revival in DeFi activity on Solana, driven by the platform’s speed, low fees, and integration with major fintech services like Stripe and Shopify. Following the implementation of the GENIUS Act, which provides clearer regulatory guidelines for stablecoin issuance and cross-border transfers, Solana’s appeal as a financial infrastructure has grown significantly.

Circle’s $USDC remains dominant in the ecosystem, increasing its supply by more than 11% in July alone. With a market share of over 72%, $USDC’s total circulation has surpassed $87.9 billion, solidifying its position as the leading stablecoin on the network. Tether’s $USDT maintains second place with 19.6% of the market share, holding approximately $23.8 billion in supply. The adoption metrics also highlight the dominance of these two tokens, with $USDC having over 5 million holders and $USDT with more than 2.2 million.

Smaller stablecoins have also shown significant growth. Global Dollar Network’s $USDG saw a 43% increase in supply, rising from $102.9 million in June to $147.5 million in July. Meanwhile, $FDUSD, another emerging stablecoin, more than doubled its supply from $104 million in May to $304 million in June, showcasing its potential to capture a larger portion of the market. In contrast, ZUSD faced a sharp decline, dropping from $8.6 million to less than $160,000 in just one month, underscoring the volatility of smaller players in the space.

The transaction volume on decentralized exchanges (DEXs) has also spiked, with average daily swap volumes rising from around $610 million in late June to over $900 million in July. A notable peak occurred on July 22, when $USDC swap volume reached $19.2 billion, a record for the token. Point-to-point (P2P) stablecoin transfers have similarly surged, with total transactions in July increasing by 63% to 26.9 million. $USDC led this growth with over 20 million transactions, followed by $USDT with approximately 5.1 million.

The rapid adoption and increased liquidity highlight Solana’s role as a fast, cost-effective platform for stablecoin-driven finance. As new stablecoins like $USDG and $FDUSD continue to gain traction, the ecosystem is becoming more competitive and dynamic. These developments suggest that Solana is well-positioned to maintain its momentum in the DeFi space, particularly as it continues to align with regulatory clarity under the GENIUS Act.

Source: [1]title1………………………..(https://solanafloor.com/zh/news/july-sees-solana-stablecoin-transfers-surge-53-to-215-b-a-deep-dive-into-ecosystem-growth)