- Solana (SOL) is just 7.16% away from overtaking USDC in market cap, fueled by an 11% price surge and over $8B in 24-hour trading volume.
- Memecoin activity on Solana’s pump.fun platform has triggered a spike in on-chain demand, pushing SOL’s usage and investor interest higher.
- Circle recently minted 250M USDC on Solana, showing institutional trust in the network—even as SOL looks set to flip USDC in market cap soon.
After a brutal, gut-punch market crash that had all the markings of a “Black Monday” for crypto, things have flipped fast — and Solana (SOL) is right at the front of the rebound pack.
Ranked #7 on CoinGecko with a market cap of $56.12 billion, SOL is now just a hair — about 7.16% — away from flipping USDC, the world’s second-largest stablecoin, which currently holds at $60 billion.
Solana’s Surge: Just Getting Started?
As of now, SOL is trading at $109.24, having gained nearly 11% in the last 24 hours. That’s no small bounce — and the surge in volume is even louder. Over $8 billion in 24-hour trading volume, up more than 50%, is a pretty clear sign that investors are diving back in.
Meanwhile, USDC isn’t exactly moving — its price stayed pinned at $1, but the market cap dipped slightly. Volume for USDC also rose, hitting $21.3 billion, but that’s typical for stablecoins during volatile periods. It’s more about capital rotating than growth.
The Memecoin Factor (Yes, Really)
A big chunk of this renewed momentum? You can thank memecoins — and more specifically, pump.fun, a wildly active Solana-based launchpad that’s been churning out tokens like crazy.
These meme tokens might not be everyone’s cup of tea, but their on-chain activity is real, and to interact with them, you need SOL. That’s pushed demand through the roof — and sparked a domino effect across the entire Solana ecosystem.
Market Mood Shifts — Risk Appetite Returns
The broader crypto market seems to be bouncing back, too. After that steep selloff, global market cap has clawed its way back to $2.52 trillion, up 5.18% in a single day. Altcoins are ripping — many showing double-digit gains over 24 hours — and Solana is clearly leading the charge.
One seasoned analyst didn’t mince words:
“SOL rising above $120? That would put it right over USDC in market cap. It’s not a question of if, it’s when.”
According to them, USDC’s supply isn’t expanding rapidly, so its market cap will likely stay stable. Meanwhile, SOL has room to run, and could even challenge BNB or XRP if the reversal gains momentum.
A Twist: USDC Thrives On Solana
Here’s the kicker: even while SOL looks poised to leapfrog USDC, USDC itself is booming on Solana.
Circle recently minted another 250 million USDC directly on the Solana network — adding to an already large pool of stablecoins flowing through the chain. That’s not just a headline; it’s a clear signal that institutions trust Solana’s speed and scalability for real-world financial use.
So while SOL and USDC might be “competing” on paper, their growth is deeply intertwined. One fuels activity, the other brings stability. And both seem to be thriving, especially when things heat up.
So… Flip Incoming?
If this pace keeps up — if traders stay hungry and memecoin traffic keeps hammering Solana’s rails — then yes, SOL flipping USDC is just a matter of time.
And judging by the numbers? That time could come sooner than most expected.
