- Solana’s stablecoin supply surged 146% in Q1, reaching $12.5 billion, highlighting its dominance in volume and liquidity activity.
- Morph led all chains with a 756% increase to $22.2 million, signaling early DeFi momentum and strong incentive-driven adoption.
- Cronos followed with 686% growth to $144 million, supported by EVM compatibility and strategic integration with Crypto.com’s ecosystem.
Solana’s market cap of its stablecoin grew 146% in the first quarter of 2025 to $12.5 billion as newer chains outgrew established chains in terms of growth percentages. Figures provided by CryptoRank.io and DefiLlama.com and transmitted by Cointelegraph reveal a widespread pattern of capital flow throughout decentralized ecosystems.
Morph and Cronos Top the Growth Rankings
Morph led all networks with a 756% increase in stablecoin supply, climbing to $22.2 million. The surge suggests increased DeFi activity, possibly driven by new liquidity incentives and product launches. Though Morph’s total volume remains small, the growth indicates strong early momentum.
Cronos followed with a 686% rise to $144 million. As an EVM-compatible chain by Crypto.com, Cronos likely benefited from tighter integration with centralized platforms and expanding DeFi incentives. Both networks showcase how smaller chains can attract large inflows when backed by strategic development and ecosystem support.
These triple-digit increases underscore shifting user interest toward platforms offering competitive transaction speeds and rewards.
Solana Maintains Volume Leadership Amid Rising Adoption
While not leading in percentage terms, Solana stood out among high-cap chains with a 146% growth in its stablecoin market, now at $12.5 billion. Cointelegraph’s tweet noted Solana ranked fifth among the fastest-growing networks, confirming the chain’s ongoing role in facilitating high-frequency trading and NFT-driven liquidity.
Other notable increases include Stacks at +437% and Bob at +378%. Stacks reached $5.93 million as Bitcoin-native DeFi gained traction, while Bob, though smaller at $1.04 million, showed notable progress in modular blockchain adoption.
Algorand also saw a 118% rise in its stablecoin supply, reaching $136 million. The increase points to potential growth in institutional interest and a maturing developer ecosystem.
Layer-2 and Enterprise Chains Show Consistent Growth
zkSync, a ZK-rollup-based Ethereum Layer-2, saw its stablecoin supply rise 91.9% to $121 million. It continues to attract users prioritizing low-cost, scalable Ethereum solutions.
Hedera posted a 90.5% gain, pushing its stablecoin market cap to $84.1 million. Its enterprise-grade architecture remains appealing for projects seeking reliable and compliant infrastructure.
As Q1 concludes, the stablecoin market reflects a broad expansion across both emerging and established chains, with percentage growth driven largely by smaller networks gaining momentum.
