Solana Users Flee, Stablecoin Ecosystem Thrives

[madmax]

Daily active users on Solana DEXs fell from 4.8M in January to under 800K in September, reflecting the end of the meme coin boom. Despite the drop, the stablecoin ecosystem has grown from $5B to over $12B in 2025, suggesting traders are embracing more durable, versatile instruments for hedging, payments, and institutional strategies.

[Couturier]

SOL DEX activity cooling off shows the meme hype is fading but the $12B stablecoin growth proves real adoption is taking root