📈 SOL + Stablecoin Market Dynamics (Jan 2026)

🔥 Key Insights

🔹 Non‑USDC/USDT stablecoins now ~20% of Solana’s stablecoin supply

Token Terminal data show that alternatives to $USDC and USDT — such as PYUSD, USDG, USD1 and even fiat‑linked tokens like VCHF or EURC — now make up about 20% of all stablecoins on Solana, a big rise from ~3% last year. This reflects rapid diversification of liquidity sources on the chain. �

ODaily

🔹 USDC & USDT still dominate (~80%)

Despite this growth, the dollar giants remain the backbone of Solana’s stablecoin space:

• USDC ~70‑75%+ share

• USDT ~20‑30%+ share

The exact figures vary by data provider, but both show that traditional USD‑pegged giants still hold most of the supply. �

Medium

🔹 Explosion in non‑USDC supply to ~$3 B

Recent on‑chain analytics indicate non‑USDC/USDT stablecoins have soared from around $300 M to ~$3.1 B in a few weeks — around a 10× increase since late Dec 2025 — with many new issuers entering the ecosystem. �

cryptonews.net

🧠 What This Means for Solana & $SOL

📊 Ecosystem Maturation

Diversification beyond USDC/USDT suggests developers, wallets (like Phantom with CASH), and aggregators (e.g., Jupiter with jupUSD) are building more financial primitives directly on Solana — not just trading bridges. This signals a maturing financial stack. �

ODaily

📉 Reduced Concentration Risk

Having a broader stablecoin mix reduces risk from regulatory or issuer issues tied specifically to Circle (USDC) or Tether (USDT). A deeper stablecoin base enhances ecosystem resilience. �

ODaily

📈 Liquidity & DeFi Growth

Stablecoins are the plumbing of DeFi: more supply → more lending, swaps, collateral, and on‑chain payments. As this supply diversifies, $SOL ‑denominated liquidity pools and protocols attract wider usage. �

Medium

💡 Price & Market Impact (Context)

SOL’s recent strength — including a rally led among L1s — has partly been attributed to stablecoin diversification fueling on‑chain activity and liquidity capture. �

AMBCrypto

⭐ Quick Take: USDC vs. USDT on Solana

Stablecoin

Role on Solana

USDC

Largest share, base liquidity for most DeFi and swap activity. �

Medium

USDT

Secondary but still highly used for trading and liquidity depth. �

Medium

Other stables

Fast‑growing, niche use cases, often tied to apps or alternative fiat pegs. #solana #WriteToEarnUpgrade #USDemocraticPartyBlueVault #StrategyBTCPurchase