According to Binance Research, Solana emerged as the third-largest stablecoin network in 2025, surpassing BNB Chain with nearly $11 billion in stablecoin market capitalization.
Data compiled from DefiLlama and Binance Research shows Solana reaching approximately $10.9 billion in stablecoins by mid-2025, narrowly overtaking BNB Chain’s $10.5 billion.
The ranking places Solana behind only Ethereum, which continues to dominate with over $126 billion, and Tron, which holds more than $81 billion.
The milestone highlights Solana’s rapid evolution from a high-throughput trading chain into a major settlement layer for dollar-denominated liquidity. Growth has been driven by increasing use of stablecoins across DeFi protocols, on-chain trading venues, payments, and consumer-facing applications, supported by Solana’s low fees and fast finality.
While Base continues to grow steadily with roughly $4.2 billion in stablecoin supply, Solana’s leap into third place underscores a broader shift in stablecoin activity toward high-performance blockchains optimized for scale.
Binance Research notes that Solana’s rise reflects not just speculative flows, but expanding real usage, positioning the network as a key contender in the global stablecoin and payments landscape heading into 2026.
