An unprecedented stablecoin supply of 73% has occurred on the Solana blockchain since the middle of January. A new initiative that has captured the attention of the crypto community, the $TRUMP memecoin, was launched at the same time as this spike. Related Reading: Ethereum Price Spikes 5% In A Day—Will the Rally Continue? Solana has been a significant actor in the crypto space for a long time; however, the release of this memecoin has sparked new interest, propelling the network’s stablecoin ecosystem to new heights. TRUMP Token Drives Significant Stablecoin Supply Increase Its launch spurred activity on Solana’s distributed markets and further investments into the network. More stablecoins are now available thanks to the rise of money entering the market, therefore enhancing Solana’s significance as a key blockchain for distributed finance. Its debut attracted new investments to the network and increased activity on Solana’s decentralized markets. The increase in money flowing into the market has led to more stablecoins being available, boosting Solana’s role as an important blockchain for decentralized finance. After Donald Trump launched his memecoin, $TRUMP, on Solana, the network saw a spike in money inflows, leading to record [decentralized exchange] trade activity, according to CCData. CCData reports that Solana has overtaken BNB Chain as the third-largest blockchain network in terms of stablecoin supply. It continues to fall behind Tron and Ethereum. SOLANA STABLECOIN SUPPLY SKYROCKETS 73% -WHAT’S DRIVING IT? Solana just hit $11.1B in stablecoin supply, jumping 73% since mid-Jan. Big catalyst? Trump’s memecoin ($TRUMP) triggering insane capital inflows + record DEX trading. Now Solana’s the #3 blockchain for stablecoins,… pic.twitter.com/9WAow0sKFd — IBC Group Official (@ibcgroupio) January 31, 2025 USD Coin Dominates Solana Stablecoin Market USD Coin (USDC) continues to be the most prevalent stablecoin asset in Solana, accounting for an impressive 78% of the network’s total stablecoin supply. The token’s widespread adoption across decentralized applications (dApps) and Solana’s ongoing relationship with Circle are both distinct indications of USDC’s dominance. In contrast, USDT, representing merely 12% of the stablecoin supply on Solana, bags the second place. This dynamic illustrates the impact of USDC’s preeminence on Solana’s stablecoin market, notwithstanding the sporadic appearance of alternative currencies like USDt. Solana’s Recent User Growth In addition to having an effect on Solana’s stablecoin market, the excitement around the $TRUMP token has significantly increased the number of on-chain users. Hundreds of thousands of new users have joined the Solana network in an attempt to join the $TRUMP frenzy. Related Reading: Dogecoin Open Interest Climbs To $4 Billion Again After Market Rebound This spike in activity has given the blockchain fresh life and led to higher transaction volumes and user engagement on Solana’s decentralized markets. $TRUMP is a perfect example of how novelty tokens can encourage new adoption, and it is clear that the memecoin movement is helping Solana’s general growth. Featured image from SolanaFloor, chart from TradingView
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This Sub $1 Altcoin Emerges as the Perfect Hedge Against Ripple and Ethereum Volatility
Ripple and Ethereum have faced increased volatility, with both digital assets performing poorly during the week. As the market fluctuations continue, traders turn to PropiChain (PCHAIN) as a strategic hedge against volatility. PropiChain, a sub-$1 presale token, is near its all-time low. This offers investors an attractive entry point. The project has already raised over $2 million during its presale token, demonstrating its ability to outperform Ripple and Ethereum in 2025. Ripple Chairman Chris Larsen Sells XRP Tokens The action taken by the Ripple Chairman, Chris Larsen, could add selling pressure to XRP. Larsen has sold roughly $116 million in XRP in 2025 so far after a long holding period. The sale puts pressure on Ripple after XRP spent years under-performing. The sale indicates that Larsen is capitalizing on XRP’s recent bullish momentum. Some traders believe that the Ripple Chairman’s actions mark the top. XRP , the cryptocurrency associated with Ripple, is down 4% in the past week. XRP and Ethereum have lost ground this week although leading altcoins have suffered more losses. PropiChain is a Good Hedge Against Altcoin Volatility PropiChain has been tipped to be one of the best hedges against volatility. This is mainly because PCHAIN is near its all-time low, presenting an exciting opportunity for investors. It will also perform better than Ripple and Ethereum due to growing interest in the presale token. The project has already raised over $2 million, with more set to come after listing. As a tokenization platform, the altcoin supports fractional ownership. This tool allows users to buy portions of real estate, making it easy for retail traders to diversify their assets even with minimum capital. With AI at the heart of PCHAIN, the altcoin has practical use cases such as predictive market analysis. With AI-driven analysis, investors can make smart investment decisions. For example, PropiChain’s predictive market analysis would have alerted users that Jupiter (JUP) would make substantial gains after its acquired Moonshot. Thanks to this acquisition, JUP is up 35% this week. Additionally, AI is used in smart contract automation . This feature automates real estate transactions such as auto-leasing and lease renewals. This process reduces manual paperwork, simplifying the lives of landlords and investors. To keep the platform safe for users, PropiChain’s smart contracts have been audited by BlockAudit, one of the best security firms in the blockchain space. Furthermore, the project has automated valuation models, a tool for accurate property appraisals. This offers accurate, fair pricing for any property, allowing buyers and seller to close their real estate deals quickly. The metaverse also allows prospective buyers to view properties digitally using the metaverse. This reduces costs in property scouting. Can PCHAIN Outperform Ripple and Ethereum? An analyst claims that PCHAIN could be a better investment bet than Ripple and Ethereum. The emerging altcoin is up 200% during the first two stages of its ongoing token presale. On the other hand, Ripple and Ethereum are suffering losses as the market loses momentum. PCHAIN is tipped to mirror Ethereum’s 2020 – 21 rally when its price surged from $122 in February 2020 to an all-time high of $4,891 in October 2021. Investors’ Appetite for PropiChain Rises Investors are betting big on PropiChain because it is undervalued at $0.01. The altcoin has raised over $2 million in its ongoing fundraising round, highlighting growing investor confidence in PropiChain. The project has been listed on CoinMarketCap. This has given it extra exposure, a key factor in attracting new investors. The sub-$1 altcoin is tipped to grow by 35,000% in 2025 thanks to its low entry price, growing community, and AI-driven tools that simplify real estate activities such as buying, selling, or investing properties. With investors’ appetite rising, this is the best time to scoop the PCHAIN token for cheap during its ongoing presale. Join PropiChain’s token presale and convert $1K into $350K. For more information about the PropiChain Presale: Website: https://propichain.finance/ Join Community: https://linktr.ee/propichain Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here . NewsBTC
US Senators Accuse JPMorgan Chase, Bank of America, Wells Fargo, Citibank, US Bank, PNC and Truist of ‘Profiteering,’ Raking In $1,000,000,000,000 in Record Pro...
Two US lawmakers are accusing seven of the largest American banks by total assets of failing to pass the benefits of a high interest-rate environment to customers. In a letter to the CEOs of Bank of America, Citibank, JPMorgan Chase (JPMC), US Bank, PNC Bank, Truist and Wells Fargo, US senators Elizabeth Warren (D-Mass.) and Jack Reed (D-R.I.) say the lenders have increased the interest rates they charge borrowers while keeping the rates they pay to savings accounts low. “Deposit rates for savers always lag behind the federal funds rate, but this gap is larger for customers of big banks than for regional and community banks.” Warren and Reed are both members of the Senate Committee on Banking, Housing, and Urban Affairs. According to the senators, the seven banks made record profits of $1 trillion in 2023 by “charging borrowers more, paying savers a little, and pocketing interest paid by the Federal Reserve.” Warren and Reed say that the CEOs of the seven mega banks have not kept their word after testifying before the US Senate three years ago that they would increase interest rates for savers. On the CEO of the largest US lender by assets, Jamie Dimon, the two senators say, “When the Federal Reserve began raising the federal funds rate in March 2022, JPMC was very quick to increase the interest rates that it charged borrowers for mortgages, auto loans, and credit cards. In September 2022, you [Dimon] testified before the Senate Banking Committee that you expected to also increase the rates that JPMC pays savers—albeit at a slower pace. At that time, JPMC was charging 6.98% for a mortgage, and 18% to 27% for a credit card, while paying its customers .01% on a demand deposit account. But two years later and despite your testimony, JPMC’s interest rates have not budged. While the interest rate that JPMC earns on the balances that it maintains in its own accounts at the Federal Reserve has risen from 3.15% to 4.4%, JPMC’s customers continue to earn a negligible 0.01% on their savings.” The two US senators also accuse the heads of Wells Fargo, Bank of America and Truist of keeping the interest rates their savings account holders earn at “negligible 0.01%” despite the lenders generating between 3.15% to 4.4% on their Federal Reserve balances. The CEOs of PNC, Citi and US Bank are also accused of keeping interest rates on savings accounts at 0.02%, 0.03% and 0.05%, respectively, while generating more than three-hundredfold from their bank balances with the Fed. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post US Senators Accuse JPMorgan Chase, Bank of America, Wells Fargo, Citibank, US Bank, PNC and Truist of ‘Profiteering,’ Raking In $1,000,000,000,000 in Record Profits While Paying Savers Peanuts appeared first on The Daily Hodl . NewsBTC