In an unprecedented surge, Solana (SOL) broke all previous records, reporting a staggering $300 billion stablecoin transfer volume this month, according to data from Artemisa Terminal. This remarkable achievement marks a phenomenal year-over-year increase of 2,595% since January 2023, when the figure stood at a modest $11.56 billion.
In an unprecedented surge, Solana (SOL) broke all previous records, reporting a staggering $300 billion stablecoin transfer volume this month, according to data from Artemisa Terminal. This remarkable achievement marks a phenomenal year-over-year increase of 2,595% since January 2023, when the figure stood at a modest $11.56 billion.
Solana’s resurgence has been nothing short of a crypto renaissance, especially considering its tumultuous past. Following the collapse of the famous FTX exchange, which had strong ties to Solana, the blockchain platform faced a bleak outlook. SOL price plummeted to $8 and developer activity hit record lows. However, the start of 2024 tells a different story: SOL is currently valued at $93, even after a recent 25% correction.

The Artemis Terminal survey reveals Solana’s notable rise to second place in on-chain transfer volume, behind Ethereum by a margin of just $10 billion. This meteoric rise has displaced Tron (TRC) from its previous position, relegating it to third place with a total transfer volume equivalent to $250 billion.
Solana’s new dominance is not limited simply to its on-chain transfer volume. The blockchain is breaking records across the board, showing a robust and resilient ecosystem that has captivated both investors and developers.
As the crypto community witnesses Solana’s unprecedented achievements, the question arises: is Solana capable of overtaking Ethereum in the near future?