The Solana blockchain recorded approximately 650 billion dollars in stablecoin transactions in February 2026, marking a new monthly high. This milestone was highlighted by The Kobeissi Letter, which noted the rapid acceleration in activity.
This surge has pushed total monthly stablecoin volumes close to 2 trillion dollars, placing them far ahead of traditional benchmarks such as gold futures trading.
Solana Drives Surge in Stablecoin Usage
According to The Kobeissi Letter, Solana’s February volume was nearly three times higher than its January figures. The increase has been linked to the launch of new products and shifting market conditions.
There are also expectations that March figures could show further growth, with analysts pointing to geopolitical tensions in the Middle East as a contributing factor.
A similar view was shared by QCP Capital, which reported that stablecoin liquidity expanded even as equities and precious metals declined under pressure from the ongoing conflict involving the United States, Israel, and Iran. During this period, USD Coin reached a record supply of 81.1 billion dollars before easing back to just over 77 billion, based on data from DefiLlama.
Part of Solana’s growth is tied to new stablecoin launches, including Western Union’s USDPT and Jupiter’s JUPUSD. The Kobeissi Letter noted that JUPUSD attracted attention by offering yield to users within its ecosystem. However, such features remain controversial as traditional banks push for regulations that would prevent stablecoin issuers from offering yield, including proposals within the CLARITY Act.
The scale of stablecoin activity now significantly exceeds some traditional markets. For example, monthly gold futures trading on CME Group recently reached about 208 billion dollars, making it far smaller than the nearly 2 trillion dollars seen in stablecoin transactions.
Trends Across the Wider Stablecoin Market
The broader stablecoin market continues to expand across multiple blockchains. Ethereum holds the largest supply with about 170 billion dollars in circulation. It is followed by Tron with 86 billion dollars, while Solana has around 16 billion dollars.
In cumulative transaction volume, Ethereum remains the leader with roughly 52 trillion dollars processed over time. It is followed by Base and Tron with 34.7 trillion and 23.8 trillion dollars respectively, according to data from Artemis. Solana has also recorded significant growth, surpassing 19 trillion dollars in total transactions.
A recent report from Ripple suggests that rising institutional interest is a major driver behind this expansion. The report found that 74 percent of finance executives consider stablecoins valuable for treasury operations, while 72 percent believe adopting these fiat backed digital assets is essential to remain competitive.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
