Key Takeaways 

Why is Solana seeing record stablecoin inflows?

Legal clarity from the GENIUS Act spurred a $3 billion rise, boosting supply to $15 billion.

Will this impact SOL’s price trend?

If SOL breaks its $222 EMA resistance, the token could reclaim $235 in near-term trading.

With crypto usage reaching record levels, stablecoins have seen strong inflows.

Their combined market cap climbed 1.44% to $303.18 billion over the past week and 6.05% over the last 30 days, rising from $285.7 billion, according to DefiLlama.

Amid this stablecoin market growth, supply on the Solana chain has outpaced all other blockchains. 

Solana outpaces peers in stablecoin growth

While Solana [SOL] remained the third-largest chain by stablecoin supply, it has recorded the fastest growth over the last months. 

This surge in stablecoin supply is primarily driven by the GENIUS Act, which was passed three months ago, as per Danny Nelson. 

With the Genesis Act offering legal clarity over stablecoin issuance and distributions, their usage has surged, with the Solana blockchain leading the way.

When the Act was signed on the 18th of July, Solana’s stablecoin supply stood at $10 billion, a 50% rise in just three months since then.