Solana's stablecoin supply excluding USDC and USDT has climbed to a new all-time high of $4.81 billion, according to on-chain data. The figure marks a milestone for the network's native stablecoin ecosystem, though some headlines have rounded it up to $5 billion — a number the actual data doesn't quite support.
The $4.81 Billion Milestone
The record was set as demand for Solana-based stablecoins outside the two dominant dollar-pegged tokens continues to grow. These alternative stablecoins include projects like USDS, FRAX, and others that operate on the Solana blockchain. The $4.81 billion figure represents the total supply of all non-USDC/USDT stablecoins on the network, surpassing previous highs.
While $5 billion is a rounder number, the precise supply sits at $4.81 billion. The discrepancy between the headline and the body of some reports may confuse readers, but the underlying trend is clear: Solana's stablecoin ecosystem is expanding beyond the two largest players.
A Low-Probability Price Prediction
Separately, a prediction market model gives Solana's native token SOL a 5% probability of reaching $90 by July 2026. That's a long-shot bet, implying that the market sees a roughly 1-in-20 chance of that price target being hit in the next two and a half years. At current levels, SOL would need to more than double to reach $90.
The prediction is not a forecast from analysts but rather a probabilistic estimate derived from options or similar instruments. It reflects the market's view of extreme upside scenarios, not a base case.
For now, the stablecoin supply record is the more concrete development. It shows that Solana's DeFi and payments infrastructure is attracting stablecoin projects beyond the usual USDC and USDT dominance. Whether that growth continues will depend on network activity and the broader crypto market.
The next data point to watch is whether the supply can break through the $5 billion psychological barrier — and whether the prediction market's 5% odds shift as 2026 approaches.
