In early 2025, Tether (USDT) trading on Solana’s transport layer experienced notable volatility, reflecting increased interest from crypto traders. Mercuryo’s data highlights dramatic fluctuations:
A 100% surge during the week of January 13
A 63% drop on January 20
A 129% recovery on January 27
A 61% plunge on February
A 137% spike on February 24
These swings suggest an unparalleled level of trading activity and interest in Solana-based opportunities over the past year.
The surge in Solana’s trading volume is partly driven by the growing popularity of meme coins. Holders of Solana have been using the token to purchase meme coins like dogwifhat (WIF) and Bonk (BONK). Additionally, platforms like Pump.fun have generated over $540 million in revenue over the past year, with its trading volume surpassing Ethereum’s over 24-hour periods on multiple occasions, underscoring Solana’s significant role in the meme coin space.
Greg Waisman, co-founder and COO of Mercuryo, commented on this trend, stating that Solana captivates the interest of crypto traders worldwide, with transaction data on Tether tokens suggesting an unparalleled level of trading activity amid an explosion of interest in trading opportunities on Solana over the past 12 months.
Overall, Solana’s fifth birthday marks a period of explosive growth and dynamic trading activity, solidifying its position as a dominant player in the blockchain space.
