Solana traded at $103.34 on Saturday evening, around 1 percent below its Friday midday level and 6.2 percent below where it stood a week ago. The number that says more about the coming weeks than the daily price does not appear on the chart at all: the Solana blockchain now holds $15.96 billion in stablecoins, against $17.45 billion on September 25. That is $1.49 billion less purchasing power within three weeks, a drop of 8.6 percent. The figures come from DefiLlama's daily series, which we analysed ourselves for this article.
Why it counts: stablecoins are the money already sitting on a blockchain. Anyone trading on Solana normally swaps USDC or USDT for SOL rather than wiring euros from a bank. When that balance shrinks, so does the amount that can flow into the market without a fresh transfer. Where the price can point over a horizon of months is covered in our Solana price prediction; this article looks at what will carry or break the next few days.
Start with the arithmetic. With 589.38 million SOL in circulation and a market value of $60.9 billion, the blockchain's entire stablecoin base now equals barely more than a quarter of SOL'...
English (US)