Solana Surges Past $184 Amidst Stablecoin Boom, Breaks New Highs

Solana has broken through the $184 barrier, experiencing a 4.2% intraday surge to hit a new all-time high. This impressive performance is largely attributed to the growing adoption of stablecoins on the blockchain and its remarkable scalability. Circle’s recent issuance of $1.25 billion in USDC on Solana within just seven days has fueled this surge, bringing total USDC minted on the chain to $24 billion this year. This places it second only to Ethereum in terms of stablecoin activity.