The supply of stablecoins on Solana jumped by 112% in January to a record high of $11.1 billion, CCData (a subsidiary of CoinDesk) said in a research report on Friday.

The surge coincided with the launch of Donald Trump’s memecoin $TRUMP, which caused a wave of inflows to the network, according to the report. Stablecoin supply has risen by 73.6% since $TRUMP launched on Jan. 18.

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