Recent on-chain data shows that Solana now processes nearly 50% of all USDC transfers across blockchains. It handles more transfers than Ethereum, Base, Arbitrum, or Polygon. This represents billions in daily transaction flow, according to a recent post by MilkRoad Daily. Solana’s fast, low-cost infrastructure has elevated its status within the stablecoin ecosystem.
Solana’s appeal comes from its ultra-fast processing, sub-cent transaction costs, and increasing institutional integrations. Most notable was Circle’s rollout of its Cross-Chain Transfer Protocol (CCTP V2) in June. This allowed for native USDC transfers between Solana and other major networks with a burn-and-mint mechanism. This smooth, bridge-free interoperability significantly reduced counterparty risks and enhanced Solana’s appeal.
Blazing speed & minimal fees
Another factor that makes Solana a growing favourite is its high throughput. The blockchain network clocks over 2,000 transactions per second and even hit a record single-block maximum of 107,664 TPS. This makes it exceptionally efficient for high-volume transfers. Add to that low fees and near-instant finality, it makes a compelling choice for moving stablecoins.
Back in July, Solana saw a 53% rise in stablecoin transfer volumes totaling $215 billion. Of this, USDC alone was responsible for over $185 billion. Peer-to-peer transfers climbed 63% to ~26.9 million, and daily swap volumes peaked at $1.92 billion. More USDC flowing through Solana means easier trading with tighter price gaps and better chances to profit from quick moves. If you’re trading SOL/USDC, expect smoother execution and less slippage, offering a strategic edge for quant-driven and intraday trading models.
Solana’s expanding role in DeFi
Solana’s dominance is reshaping the DeFi ecosystem. On the Solana chain, USDC represents over 70%–73% of stablecoin supply, with total supply on the network exceeding $8–9 billion.
With more and more people using USDC on Solana, its dependence on Ethereum is reducing, as one would have to pay high gas fees too. This could lead to money moving differently across the crypto market and make trading smoother overall. Traders might look into SOL futures to take advantage of price swings caused by the high trading volume.