Solana stablecoin market cap rises $900M after Jupiter launches JupUSD

The market capitalization of stablecoins on the Solana blockchain rose by $900 million over 24 hours on Tuesday, reaching $15.3 billion, according to DeFiLlama. The increase came as decentralized finance platform Jupiter launched its JupUSD stablecoin, developed in partnership with synthetic stablecoin issuer Ethena.

Solana’s stablecoin ecosystem is dominated by Circle’s USDC, which accounts for more than 67% of the network’s total stablecoin market cap. The article said the surge reflects heightened investment activity and investor interest as the Solana ecosystem shifts toward becoming a hub of Internet capital markets where value and risk are transferred onchain.

Financial rating agency Moody’s said stablecoin settlement volume increased by 87% in 2025 and described stablecoins as critical infrastructure for tokenized real-world assets (RWAs). Tokenized RWAs require stablecoins for onchain liquidity and settlement and can enable uses such as using traditionally illiquid asset classes—art, real estate and collectibles—as backing collateral for loans in DeFi applications.

Several traditional financial institutions project the RWA market could grow to $30 trillion by 2030, and RWA.xyz said the total market cap of overcollateralized stablecoins is nearing $300 billion.

Key Topics

Crypto, Jupusd, Jupiter, Solana, Usdc, Ethena