Solana’s blockchain witnessed strong performance in Q1 2025, reflected by a significant surge in its economic activity. Key indicators reveal a growing adoption of the network, driven by rising stablecoin market cap and increased on-chain GDP. This growth indicates potential shifts in cryptocurrency preference and competitive pressure on other Layer 1 blockchains. Messari’s report shows a 20% increase in Solana’s on-chain GDP to $1.2 billion for Q1 2025, along with a record-breaking 145% rise in stablecoin market cap to reach $12.5 billion. The substantial growth in stablecoins suggests a change in liquidity preference, potentially altering the competitive landscape among Layer 1 blockchains. This shift may prompt further innovation and adaptation from competitors.