Solana's ecosystem is strengthened by the rise of stablecoins: they increase 36% in Q3

A 36,5% growth in the total value of hosted stablecoins positions Solana as one of the most active networks in the crypto ecosystem in the last quarter.

According to the latest report from the analytics firm Messari, the Solana network has seen its stablecoin market capitalization increase by 36,5%, reaching an all-time high exceeding 14.100 millionThese figures position Solana among the most active and relevant platforms within the crypto space, especially in terms of stable liquidity.

Within this growth, USDC, issued by Circle, stands out as the leading player, with a 39,6% increase bringing its value close to $10.000 billion on the network. Meanwhile, PYUSD, PayPal's stablecoin, has performed even more strongly, more than doubling its value in the quarter to reach $445,3 million. 

Messari analysts emphasize that these figures reflect both the growing demand for stablecoins within the Solana ecosystem and the confidence that developers, users, and institutional investors place in the network.

Solana: DeFi giant with record growth in TVL and market capitalization

Messari's report also highlights The total value locked (TVL) in Solana's DeFi protocols and applications grew by 32,7% during the last quarter, reaching $11.500 billion. This growth allowed Solana surpass TRON and consolidate its second place in TVL among all blockchain networks.

Solana, in addition to being one of the most capitalized cryptocurrencies on the market, has also become one of the main infrastructures for the development of decentralized finance, with an ecosystem that includes everything from decentralized exchange platforms (DEXs) to lending protocols, derivatives and much more.

Meanwhile, the market capitalization of SOL, the network's native cryptocurrency, closed the quarter at nearly $112.000 billion, reflecting a 26% growth during that period and maintaining SOL's position as the sixth most valuable cryptocurrency in the market. 

Additionally, the firm's report indicates that Solana generated approximately $222 million in real economic value During the quarter, considering transaction fees and rewards for network validators. This latter indicator is key to understanding the health of the ecosystem, as it demonstrates that participants receive adequate incentives, strengthening the long-term sustainability and consolidation of the network.

Innovation and growth that attracts developers

Messari's status report reveals that Solana's blockchain not only stood out in the last quarter for its financial indicators, but also because it has managed to consolidate a robust technical infrastructureThe improvements to Solana have allowed it to maintain block times of less than one second and almost negligible transaction fees, below $0,001; characteristics that have been key in capturing the interest of developers looking to build scalable applications, capable of offering an agile and fluid user experience.

The Solana ecosystem also shows steady and diversified growth. The number of active projects has expanded significantly in areas such as digital payments, gaming, decentralized social networks, and non-fungible tokens (NFTs). This variety of use cases has generated increased demand for stablecoins, which have diverse applications within these platforms.

Among the most prominent protocols in the Solana network are Fireplace, which maintains its leadership with a TVL of $2.800 billion and a 24,1% share. It is followed by Jupiterwhich regained second place thanks to a 59,6% increase in its TVL, closing at $2.600 billion. This growth was accompanied by the launch of Jupiter Lend, a Fluid-powered product that has already accumulated more than $700 million in TVL. Finally, raydiumAlthough it dropped to third place, it also exhibited a 32,3% increase in total marketable value, reaching $2.300 billion, according to the data Of the report.

The growth and advancements of these protocols demonstrate the vigor and capacity for innovation within the Solana ecosystem, which continues to consolidate itself as a key platform for both developers and end users, with a promising future in the blockchain world.

In terms of interoperability, Solana has also made significant progress by integrating with other blockchain networks and protocols. This connectivity has facilitated the transfer of assets between different platforms, improving the user experience by enabling flexible and direct access to various services without complications or barriers.