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# SOL Ecosystem Stablecoin Market Cap Breaks Through, Surpasses BNB Chain to Rise to Third Tier
According to the latest research data, Solana's stablecoin network size is expanding rapidly. By mid-2025, the market cap of stablecoins on the SOL chain is expected to reach approximately $10.9 billion, enough to surpass BNB Chain's $10.5 billion and officially become the third-largest stablecoin settlement network globally.
The top two positions are firmly held by Ethereum (over $126 billion) and Tron (over $81 billion), but Solana's upward momentum is evident.
Why can SOL rise so quickly? On one hand, the use cases for on-chain stablecoins are indeed expanding—DeFi lending, exchanges, payment applications—all are absorbing increasing amounts of USDC, USDT. On the other hand, Solana's own advantages are also clear: low transaction fees and fast confirmation speeds, which improve the user experience for stablecoin transactions.
In comparison, the stablecoin supply on Base chain is about $4.2 billion, with stable growth but still not catching up with SOL's momentum. This shift in the market reflects a major trend—high-performance, scalable public chains are attracting more stablecoin deployment and liquidity.
It is worth noting that Solana's growth is not solely due to capital speculation; actual on-chain transactions and application activity are also increasing in tandem. This suggests that SOL is poised to become an important player in global stablecoins and payment settlement by 2026.