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Trump Coin Frenzy Drives Stablecoin Supply Over $10B, Record DEX Volumes

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Solana (SOL), the layer-1 blockchain designed for high-speed and low-cost transactions, has been at the center of a trading frenzy with Donald Trump’s memecoin driving stablecoin supply on the network to a fresh record-high.

The total stablecoin supply on Solana has surged to $10.5 billion, doubling since the start of January, according to data source Artemis. Circle’s USDC led the increase surpassing $8 billion in total circulation on Solana, adding more than $4 billion this month, while Tether’s USDT grew to $2 billion from $917 million, per Artemis. Stablecoins are a key piece of infrastructure in the crypto economy, serving as a popular source of liquidity for crypto trading.

Stablecoin supply on Solana (Artemis)

Stablecoin supply on Solana (Artemis)

Solana and its ecosystem of in-built protocols built have become a bustling hub for trading and launching tokens in red-hot, fast-growing crypto sectors such as memecoins and crypto AI agents.

The network’s stablecoin liquidity growth was steady over the past months as digital asset markets rejuvenated with crypto-friendly Trump’s election victory, but it skyrocketed with the launch of TRUMP coin Jan. 17, the “official” memecoin tied to the U.S. President. Released on Solana, the token garnered massive trading volume across decentralized exchanges, driving transaction activity and liquidity inflows to the network.

Before the token got listed on popular centralized exchanges like Binance and Coinbase, trading with the TRUMP coin was first available on decentralized exchange (DEX) Meteora paired against the USDC stablecoin, David Duong and David Han from Coinbase Institutional Research, noted in a Friday report. That said, fast-moving traders first needed to first acquire USDC to buy the coin, driving USDC inflows to the network.

Along with stablecoin growth, trading volume on Solana-based decentralized exchanges (DEX) also soared to record highs of more than $25 billion daily, executing 74% of overall DEX trading volume on all blockchains, the report noted.

“Staggering numbers,” Sean Farrell, head of digital asset research at Fundstrat, said in an X post.

The increased activity was reflected in Solana’s native token (SOL) price, posting the largest gain through this week with 20% among the broad-market CoinDesk 20 Index members, vastly outperforming bitcoin’s (BTC) 2% advance.

Read more: Solana Bull Bets Big on SOL Rallying to $400

While USDC and Tether’s USDT dominate the stablecoin market on Solana — as they do in the broader crypto landscape — there’s a growing number of up-and-coming issuers that recently expanded to the blockchain, noted Tom Wan, head of data at Entropy Advisors.

Last week, Hong Kong-based First Digital added native support on Solana for its $1.8 billion FDUSD fiat-backed stablecoin. DeFi lending behemoth Sky, formerly MakerDAO, also brought its yield-generating USDS stablecoin to the network in November.





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Berachain rolls out next phase of proof-of-liquidity system

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Berachain is rolling out the next phase of its proof-of-liquidity system, expanding governance and emissions beyond its native BEX pools. 

Up until now, only Berachain’s (BERA) native exchange, BEX, was used to distribute rewards. Other decentralized applications will be able to apply for incentives through new reward vaults starting on Mar. 24, according to Berachain’s official announcement. This will help them expand by drawing liquidity.

https://twitter.com/berachain/status/1902854165883167167?s=46&t=nznXkss3debX8JIhNzHmzw

Liquidity pools from multiple decentralized finance platforms have been included in the initial set of vaults, with more to be added later. This has opened up a more transparent system where users have more control over how incentives are allocated and projects vie for rewards.

With Berachain’s PoL model, assets remain active in DeFi, in contrast to traditional proof-of-stake blockchains, where users lock up tokens for security. Network activity is limited in PoS systems because staked tokens are frequently not available for lending or trading.

The system used by Berachain ensures that validators send back some rewards to the network rather than keeping them. Applications that boost activity on the blockchain and aid in its growth receive these rewards. The governance token, BGT, gives holders the ability to vote on which validators and projects receive support, thereby determining how these rewards are distributed.

The first approved vaults focus on DEX liquidity pools, which allow users to swap tokens easily. These pools were selected based on their liquidity, security, and importance to the network. Liquidity pairs on BEX, Kodiak, Beradrome, and other protocols featuring key assets like BERA, HONEY, and BGT, as well as major stablecoins, are among the first approved vaults.

Berachain has grown rapidly since launching its mainnet on Feb. 6. The platform now has $3.1 billion in total value locked and almost $1 billion in circulating stablecoins. The trading volume in February alone was $1.9 billion, according to DefiLlama data

Following launch, BERA hit an all-time high of $18.82 before falling to its present range of $6.03–$6.93. The network has a fully diluted volume of $3.37 and a $728 million market capitalization as of Mar. 24. The new governance initiative is expected to attract more users and contribute to further growth of the blockchain.





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First meta-DEX aggregator Titan launches on Solana

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Titan, Solana’s first meta-decentralized exchange aggregator, has launched its beta platform, giving private access to a select group of users.

According to a Mar. 23 press release, Titan operates as a layer above standard DEX aggregators like Jupiter (JUP) and DFlow. To ensure traders receive the best price with no fees, it aggregates quotes from all available DEX aggregators rather than just sourcing liquidity from different DEXs.

In addition to aggregation, Titan introduces Talos, a proprietary routing algorithm that, according to the press release, outperforms competitors 80% of the time. Compared to current Solana (SOL) solutions, Talos analyzes more liquidity sources and optimizes routing at a granular level to enhance trade execution.

Quote slippage caused by execution delays is a major problem with on-chain swaps. Because Solana transactions take around 10 seconds (25 blocks) to complete, the price may fluctuate before the trade is executed. Titan wants to address this issue by continuously updating quotes in real-time to provide traders with the most accurate pricing.

 “Titan’s aim is to provide DeFi traders with the best possible prices while abstracting away the complexity involved. Today, crypto trading lags behind traditional markets in its order placement design. It’s time for us to upgrade our infrastructure and close this gap, and that’s what Titan is designed to do.”

— Chris Chung, CEO and co-founder of Titan

Titan previously raised $3.5 million in a September 2024 pre-seed round, backed by Round13 Digital Asset Fund and Beluga Labs.

Solana is seeing record adoption alongside Titan’s launch. According to Ali Charts Mar. 22 post on X, the network now has over 11 million wallets holding SOL. Solana continues to lead in DEX trading volume, which hit a record $258 billion in January before cooling off to $105 billion in February amid a broader market downturn.

Impressively, the stablecoin market cap on the network has grown to $12.36 billion, a three times increase from December 2024, according to DefiLlama data. Despite this growth, SOL’s price has seen volatility. It peaked at $298.31 in January before dipping to $118 on Mar. 11.

The price has rebounded to $133 as of press time. With rising institutional interest, analysts speculate SOL could push toward the $300 mark in the coming months.



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Meteora shares two proposals on MET token allocation

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Meteora, the popular decentralized exchange on Solana, has put forward two proposals for adjusting MET token allocation.

According to Meteora’s Mar. 20 post on X, these changes aim to make liquidity provider rewards fairer, support new token launches, and secure long-term incentives for the team. The first proposal suggests revising the LP Stimulus Plan.

Originally, 10% of the MET supply was set aside to reward liquidity providers, but since the program has been running longer than its expected December 2024 end date, Meteora wants to increase this to 15%. This adjustment ensures that early and new LPs receive rewards without devaluing tokens. 

Early contributors will receive 2% of MET under the updated plan, while all LPs will receive 8% equally. The original points multiplier system has been replaced by this. An extra 3% of MET will go to Launch Pools and Launch Pads in order to avoid reward dilution for retail LPs.

The second proposal focuses on the team. Meteora plans to allocate 20% of the MET supply to its team, with a six-year vesting period to maintain long-term commitment. Within this, 2% will go to M3M3 token holders. M3M3 is Meteora’s stake-to-earn platform, which lets users earn fee rewards from permanently locked liquidity pools.

This move follows the mismanagement of M3M3 by its original creators, which led to investor losses. To maintain fairness, the distribution will be based on two snapshots and wallets connected to questionable activity will be blocked.

Meteora has experienced rapid growth in the past few months. According to DeFiLlama data, the platform’s trading volume surged 33 times, from $990 million in December 2024 to $33 billion in January 2025.

Due to its rapid growth, Meteora now holds a 9% market share and is ranked fourth among DEXs by trading volume. While the broader DEX market was on a downturn, Meteora raked in $195 million in monthly fees in February.

Despite its achievements, Meteora is currently facing legal issues that may impact its future. Burwick Law, a New York law firm, filed a class-action lawsuit against Meteora, KIP Protocol, and Kelsier Ventures on Mar. 13. According to the lawsuit, they defrauded retail traders and misled investors by manipulating liquidity during the LIBRA token launch. 





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