According to the latest Google Search Traffic report, Solana has topped Ethereum based on stablecoin volume.
Solana-based USDC has now become the most transacted stablecoin. The stablecoin registered a whopping $103 billion worth of transfers on Solana. A popular Web3 influencer named Degen News noted that it was the first time Solana had outperformed Ethereum in terms of stablecoin volume.
As per the report, Ethereum followed Solana with $90.9 billion, with Tron coming in third with $82.3 billion. BNB Chain was fourth on the list with $14.6 billion.
Qiao Wang, a former Messari researcher, also stated that Solana-based USDC has overtaken Tron-based USDT to become the most transacted stablecoin in terms of volume alone.
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Solana concluded the year on a high note, as the network surpassed Ethereum in terms of NFT trade volume. While Solana had $366.6 million in trades, Ethereum had $353.2 million.
However, this data posted by Degen News was contradicted by CryptoSlam, which showed Solana accumulating $329.3 million in NFT sales. This was 5% below Ethereum’s $345 million in NFT trades in December 2023.
Solana seems to be riding a bullish wave regardless of the exact numbers. The coin has earned 69.42% value in the past month and is currently trading at $108.55. According to the experts’ Solana forecast, the coin is expected to hit $120 by 2025.
A quick look at Solana’s performance in 2023 proves how well the coin has been doing. SOL started 2023 at $9.97 and ended the year at $103.3. Market momentum helped the coin, but a big chunk of the boost came from its constant upgrades and collaborations.
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Now that Solana is finally picking up pace, the network and SOL are expected to outperform the competition by leagues in 2024.
