The supply of stablecoins on the Ethereum competitor Solana has surged after the launch of the TRUMP memecoin, according to crypto research firm CCData. The stablecoin supply on Solana has increased by 73.6% since January 18th, leading to record-breaking decentralized exchange trading activity. Overall, stablecoin supply on Solana reached a new all-time high of $11.1 billion in January. However, Tether's USDT stablecoin lost market share, dropping from 67.5% to 64.9% last month. Solana's native cryptocurrency SOL has experienced a decline in value in the past 24 hours and past week, but remains up by nearly 18% in the past 30 days.



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