Key Points
- •Key figures include Anatoly Yakovenko and Raj Gokal from Solana.
- •Solana positioned as the 'new Wall Street' for stablecoins.
- •Justin Sun, known for aggressive strategies, leads TRON.
- •Ethereum leads in TVL but trails behind TRON in revenue.
- •The SEC's imminent ETF decision on Solana, expected on October 16, 2025, could boost institutional flows.
TRON, Solana, and Ethereum have emerged as leading blockchains for stablecoin activities by 2025, bolstered by infrastructure improvements and evolving regulatory perspectives.
The prominence of these blockchains highlights a pivotal shift in the cryptocurrency landscape, impacting market dynamics and institutional involvement.
The stablecoin market surpassed $300 billion globally. Solana’s stablecoin supply increased by 77% in 7 days. TRON maintains over 51% of global USDT supply.
Anatoly Yakovenko and Raj Gokal from Solana continue to drive innovation as Solana positions itself as the ‘new Wall Street’ for stablecoins. Justin Sun, with his aggressive strategies, leads TRON, while Vitalik Buterin advocates for Ethereum’s scalability.
Regulatory Developments
The SEC's imminent ETF decision on Solana, expected on October 16, 2025, could boost institutional flows, potentially triggering a major SOL price rally. As Solana enhances its speed, it becomes attractive for high‑frequency trading environments.
Pectra Upgrade
Ethereum's Pectra upgrade is expected in December to address scaling/data costs. Regulatory clarity, notably ETFs, proves crucial for institutional adoption. Community support grows for Solana’s advancements despite historical network challenges.
Insights indicate TRON's USDT issuance dominance will influence revenue through efficient settlement. Solana’s upcoming ETF ruling mirrors past crypto‑ETF institutionalization patterns.
Macro trends suggest regulatory actions align favorably with stablecoin network expansions.
Matthew Hougan, Chief Investment Officer, Bitwise, said October 2, 2025, “Solana's ability to settle transactions in under 150 microseconds—down from 400 microseconds—makes it particularly attractive for high‑frequency trading environments where latency is critical.”
Visa On‑Chain Analytics for Transactions Overview provides an insightful look into how stablecoins are integrated into everyday transactions on these networks.