Solana loses 6.4 percent of its stablecoin reserves: what counts for your sell order now

Solana holds $16.33 billion in stablecoins on Sunday afternoon. On September 25 the figure was $17.45 billion. Around $1.12 billion has therefore left the chain in 16 days, just under $70 million a day on average. That is 6.4 percent of the entire stablecoin cushion, and it is the number that reaches you when you sell, earlier than any price headline does. Stablecoins are a blockchain's cash. Sell something on Solana and you will almost never be credited in euros; what arrives is a dollar token. When that stock shrinks, the other side of your sell order shrinks with it. The price itself says nothing about this: SOL traded at $111.79 at around 16:43 UTC on October 11, up 1.48 percent in a day, with a daily high of $111.84 and a daily low of $108.94. Over a week it is down 7.8 percent, over 30 days up 9.5 percent. The figures come from CoinGecko. Stablecoins on Solana: $1.12 billion less than on September 25 The DefiLlama time series puts the peak on September 25 at $17.45 billion. The stock has fallen in steps since then, interrupted by two brief counter-moves in early and mid-October. The reading on October 11 is $16.33 billion. Add up all the individual dollar tokens and the resul...