TL;DR
- Solana’s stablecoin market cap surged above $5 billion, with a $424.87 million weekly boost.
- The network’s Total Value Locked (TVL) surpassed $55 billion, reflecting increased confidence in Solana’s ecosystem.
- SOL token saw an 11.39% weekly gain, indicating a potential market rebound.
Solana has concluded 2024 on a high note, emerging as a frontrunner in the cryptocurrency arena with impressive weekly growth in stablecoins. The network’s stablecoin market capitalization has surged back above $5 billion, reflecting both Solana’s growing influence and the broader increase in stablecoin usage.
Over the last week of 2024, Solana saw a remarkable addition of approximately $424.87 million to its stablecoin market cap, making it the top performer in terms of stablecoin growth. This surge was primarily driven by USDT and USDC, two of the most widely used stablecoins.
In the past 7 days, stablecoins(USDT&USDC) on #Solana increased by $424.87M, and stablecoins(USDT&USDC) on #Base increased by $75M. pic.twitter.com/m8Qic0HMed
— Lookonchain (@lookonchain) December 30, 2024
Solana’s Total Value Locked and Market Performance
In 2025, Solana experienced a significant surge in its TVL, surpassing $55 billion for the first time, coinciding with the rise of stablecoins. TVL serves as an essential indicator, reflecting the overall value of assets secured within DeFi applications on the network.
The increase in TVL shows that people are becoming more confident in the Solana ecosystem, with more money going into its dApps and services. However, even with this growth, Solana’s TVL and stablecoin market cap are likely to finish the year lower than their highest points in 2022.
The network has shown great progress in 2024, but there is still plenty of opportunity for growth in 2025. Solana, in particular, stands to gain from more liquidity and higher investor confidence.
SOL Price Action and Market Outlook
Solana’s token, SOL, saw a good price increase, finishing the week up by 11.39%. Currently, SOL is priced at $194, which is 26% below its highest value from November 2024.
This price movement shows that the downward trend affecting SOL for the last few weeks might be slowing down, with buyers possibly coming in for a recovery. The 11.39% gain over the week hints that the market could be ready to bounce back, especially since the selling pressure has decreased a bit.
It seems that the profit-taking from the past few months might have hit its high point, suggesting that the market is now set for a more prolonged upward trend.
