Key facts
- Approximately $500 million in USDC stablecoins were issued on the Solana blockchain.
- Circle issued $250 million in USDC on the Solana blockchain.
- Solana captured 97% of the tokenized equity trading volume.
- TRON blockchain launched Hamilton Lane's tokenized Senior Credit Opportunities Fund (HLSCOPE).
- HLSCOPE is the first Securitize-issued asset on the TRON network.
- A new proposal on the XRP Ledger aims to mitigate flash loan attacks.
- Solana's SOL price is trading below $81.20 and the 100-hourly simple moving average.
- Solana Unchained ($UCHN) launched its public presale.
- Bitcoin experienced a $10,000 price drop.
- Chainlink partnered with Mastercard to allow cardholders to buy crypto on-chain.
The Solana blockchain has seen substantial activity with approximately $750 million in USDC stablecoin issuances. One report details $500 million in USDC issued on Solana, while another specifies $250 million issued by Circle. This stablecoin growth occurs as Solana demonstrates market dominance, capturing 97% of the tokenized equity trading volume. Furthermore, Solana's perpetual decentralized exchanges have recorded over $20 billion in weekly trading volume. Amidst this network activity, Solana Unchained ($UCHN) has launched its public presale, aiming to build a utility-native token economy. The project offers non-custodial purchases of gift cards, eSIMs, and mobile top-ups, with a 2% processing fee. The presale's first phase, offering $UCHN at $0.05, is nearing its close, with interest potentially boosted by Bitcoin's recent $10,000 price drop, which is prompting traders to seek utility-focused crypto projects. Solana Unchained highlights features like an inheritance protocol, social recovery, AI insights, and KYC-free retail payments.
Beyond Solana, the TRON blockchain has launched Hamilton Lane's tokenized Senior Credit Opportunities Fund (HLSCOPE). This launch signifies a significant entry into the institutional real-world asset (RWA) market, leveraging TRON's user base and stablecoin infrastructure. HLSCOPE is the first Securitize-issued asset on TRON, with integration via Wormhole intended to improve liquidity and cross-chain accessibility for institutional investors.
Security is also a developing theme, with a new proposal on the XRP Ledger aimed at mitigating flash loan attacks. These attacks exploit the ability to borrow large capital sums within a single transaction. The proposal seeks to introduce safeguards to make such attacks more difficult as decentralized finance (DeFi) activity expands on the XRPL.
In terms of market performance, Solana's SOL price is currently consolidating losses above $78, trading below $81.20 and the 100-hourly simple moving average. A bearish trend line with resistance at $82.00 is forming on the hourly chart. Initial downside support is seen near $79, with a major support level at $78.00. A break below $78.00 could lead to a decline towards the $75 support zone. Separately, Chainlink's LINK token is testing channel support near $9.10, having fallen 7% over two weeks but showing a 1.8% increase in the last 24 hours. Analysts are monitoring for a potential breakout to $11. Chainlink has also partnered with Mastercard, enabling cardholders to purchase cryptocurrency on-chain.
Adoption of USDC on Solana is also growing, with Cash App recently announcing its acceptance of the stablecoin on the network.