Solana Stablecoin Supply Hits New All-Time High of $17.3B

Stablecoin supply on Solana reached a new all-time high of $17.3 billion on 25 September 2026, according to a post from the official Solana account at 14:00 UTC. That is about $600 million above the $16.7 billion record we reported on 9 August.

Analytics account SolanaFloor put the total slightly higher, at $17.39 billion, in a post 40 minutes later. By SolanaFloor's count, supply rose $1.26 billion in the preceding 24 hours as Circle USDC$1.0000.0% minted $751 million of USDC and Tether USDT$1.000+0.1% minted $530 million of USDT on Solana. Those issuer-level figures come from SolanaFloor alone. The Solana post did not name a data provider.

How the $17.3B Solana stablecoin figure compares with DefiLlama

DeFiLlama, the public DeFi and stablecoin data tracker, shows a lower number. Its chain-level stablecoin data put dollar-pegged supply on Solana at $16.57 billion on the afternoon of 25 September 2026, or about $16.63 billion once euro-pegged and other stablecoins are added. That leaves a gap of roughly $700 million against the Solana post.

The gap comes from methodology. Each stablecoin tracker keeps its own list of which tokens count as stablecoins and refreshes its totals on its own schedule, so a burst of issuance inside a single day can show up in one count hours before another.

DefiLlama's data does settle the ranking. Solana is the third-largest stablecoin network by supply, behind Ethereum and Tron and ahead of BNB Chain and Base.

On DefiLlama's numbers, Ethereum holds $145.9 billion and Tron $94.1 billion, while BNB Chain carries $13.3 billion and Base $5.1 billion. Solana's total is about 11% of Ethereum's, and about $3.3 billion ahead of BNB Chain.

Circle and Tether issuance and USDC wallet growth

The record lands after a month of heavy issuance on Solana. Circle minted roughly $11 billion of USDC on the network in August, as we covered on 2 September, and on 19 September Tether and Circle added $750 million between them in a single session. Gross minting overstates growth, because redeemed stablecoins are burned on the way out, so billions of dollars in monthly issuance have added up to about $600 million of net supply since 9 August.

USDC is the largest single piece of the total. Solana Compass tracks USDC supply on Solana at roughly $8.4 billion as of 25 September 2026, close to half of the $17.3 billion record. The holder base is widening too. The number of Solana wallets holding USDC rose from about 8.1 million on 10 August to more than 9.3 million on 25 September, according to our token data.

Payment infrastructure is being built around those dollars as well. In mid-September, Column N.A. launched native stablecoin rails with Solana as its default chain, and on 24 September the Solana Foundation appointed Jamal Raees as general manager of payments.

Deeper dollar liquidity for Solana DeFi and payment apps

Stablecoin supply counts the dollars sitting on Solana at a given moment; how often they move is a separate measure. A larger balance still matters for anyone building or trading on the network. It means deeper pools for DEX trades, more lendable dollars in money markets, and more float for payment apps that settle in USDC or USDT without leaving the chain.

Circle and Tether are both minting on Solana in size, and the supply keeps setting records even with redemptions running against it. Whether the total reads $16.6 billion or $17.3 billion depends on the tracker. By the Solana account's count and SolanaFloor's, it has never been higher.