Conclusion:

**The analysis of stablecoin usage on Solana from December 26, 2022, to October 16, 2023, highlights several key insights. Firstly, USDC emerged as the top choice for the majority of Solana users, with a significant user base and a substantial number of transactions. This indicates a high level of trust and preference for USDC in their Solana activities. USDT also played a significant role, albeit with a smaller user base.** **Stablecoin transactions on Solana were substantial, with USDC leading in transaction volume, reflecting its widespread trust and popularity. This data emphasizes the pivotal role of stablecoins in facilitating various financial activities within the Solana ecosystem.** **Furthermore, the analysis revealed that DEX platforms, with a substantial user base, were the preferred choice for stablecoin usage. CEX also had a notable user count, while dApps saw comparatively lower user adoption.** **Regarding platform types, DEX platforms recorded the highest stablecoin transaction volume, followed by CEX and dApps. These findings illustrate the diverse preferences and user behaviors within the Solana ecosystem.** **Orca was the most prominent platform for stablecoin transactions in terms of USD volume, followed by Circle and Kraken. Binance also played an important role in providing liquidity for stablecoin transactions, while Raydium was significant in enabling stablecoin-related activities.** **Orca was also the platform with the most user engagement, followed by Raydium and Binance. Saros and Bybit contributed to the diversity of users, highlighting the multi-faceted nature of stablecoin usage on Solana.** **In conclusion, stablecoins are a crucial component of the Solana blockchain, providing users with the stability and liquidity needed for their transactions. The data underscores their pivotal role in various financial activities and their significance within the Solana ecosystem.**

Stablecoin Usage On Solana