Supply is a stock, and it moves slowly
Supply is a stock: the dollars in stablecoins that exist on Solana that day, not the dollars that passed through them. It changes far more slowly than the traffic over it — it stands 0.7% down on a year ago and 10.5% below the peak of $16.39B set on Dec 12, 2025.
Whether this reaches your yield
Every stablecoin transfer is a Solana transaction, and every transaction pays a fee. Those fees are the largest single part of what an operator earns — and they stop there. What a delegator earns comes from issuance and the MEV share, not from fees, so a float that grows or moves faster changes what validators collect without changing what you collect. The transaction activity chart counts the transactions and the validator revenue chart shows whose income they become.
Earning on SOL, not on stablecoins
Stake.Cake charges 0% fees on both staking and MEV rewards.
FAQ
Does this count every stablecoin on Solana?
The headline figure is circulating stablecoin supply on Solana, in dollars, one number per day. The breakdown further down splits that supply by token and names the issuer behind each. It is counted separately, so its total runs a few percent under the headline figure and the two are not meant to be divided into each other.
Does stablecoin activity change my staking rewards?
Only indirectly, through fees. What you receive still depends first on your validator's commission and how reliably it produces blocks — a busy stablecoin week does not raise the issuance paid to you.
Where does this data come from?
On-chain Solana data, one row per day: the circulating stablecoin supply, and a second daily series behind the split by token, refreshed here each morning. The newest day can still be revised upstream, so the figures at the top are seven-day averages rather than the last row.