Solana Could Dethrone Ethereum in Stablecoin Race, Says REX CEO

HKAN | Aug 27

According to REX CEO, Solana has the potential to dethrone Ethereum as the leading blockchain for stablecoins. The prediction comes amid increasing adoption of Solana-based decentralized finance (DeFi) applications and a growing preference among users for faster, cheaper transactions.

Solana’s network is known for high throughput and low fees, making it an attractive alternative to Ethereum, especially for stablecoin issuers and DeFi developers seeking scalable solutions. In contrast, Ethereum continues to face challenges related to gas fees and network congestion, despite ongoing upgrades like Ethereum 2.0.

Why Solana Could Lead the Stablecoin Sector

• Faster transaction speeds allow for more seamless payments and trading.

• Lower fees make Solana attractive for large-volume stablecoin transactions.

• Growing ecosystem of DeFi projects and NFT platforms increasing network adoption.

REX CEO highlighted that stablecoins are becoming a critical part of blockchain ecosystems, serving as a medium of exchange, a store of value, and a tool for financial inclusion. Solana’s technical advantages could make it the preferred blockchain for stablecoin projects, potentially challenging Ethereum’s longstanding dominance.

Market analysts note that if Solana gains significant market share in stablecoins, it could trigger broader adoption of the blockchain for institutional and retail finance, reinforcing its position as a leading Layer 1 solution.