While supply has risen sharply, the overall number of stablecoin transactions on the network has been steadily increasing in recent weeks. The chart shows that SOL’s stablecoin transactions are currently positioned at over 211.4 million, highlighting SOL’s growing role as the centre for stablecoin settlement.
During this period, several successful projects have been launched in the blockchain. Infinita City launched its native currency, LIVES, on the network, and Venture Launch is coming to Prospera.
At the time of writing, SOL was trading at $231, demonstrating a 0.97% decline in the last 24 hours. Despite the slight bearish action, sentiment is still positive, as evidenced by a nearly 8% increase in trading volume in the past day.
