Robinhood-backed USDG Stablecoin Surges Over 160% on Solana, Overtaking ETH
According to data by , Robinhood-backed USDG, a dollar-pegged stablecoin, has surged over 160% on the in the past month, overtaking its supply on ETH. USDG crossed the $350 million circulating supply mark on Solana, compared to the stagnating $200 million on ETH, representing one of the quickest adoption curves for a new multi-chain stablecoin in 2025.
What Happened: Why Did USDG Spike?
, Paxos, and a coalition of major fintech firms launched USDG as part of the Global Dollar Network in late 2024, with an explicit goal of bridging institutional and DeFi liquidity. Solana’s adoption accelerated this summer as USDG’s supply increased by 160% in just 30 days, a move confirmed by market data from Token Terminal. on Solana in February was part of a broader strategy to make the stablecoin multi-chain and more accessible for DeFi trading.
USDG’s utility, including yield-generation and robust compliance frameworks (), has attracted both DeFi traders and institutions viewking alternatives to USDT and USDC. Partnerships with payment processors, wallets, custodians, and platforms, including Robinhood, , and Paxos have fueled rapid adoption and deep liquidity.
Investor Takeaway
Why Does Solana Matter More Now?
— averaging over 200 million monthly stablecoin transactions in Q1 2025 — and deep DeFi activity have made it a preferred chain for rapid-scaling tokens like USDG. later than lagging ETH and Tron for years, Solana’s stablecoin supply rebounded sharply, with USDG’s rise outpacing established tokens like USDT and USDC in recent volume growth.
For crypto traders, USDG on Solana offers lower fees, quicker access to DeFi protocols, and robust liquidity, positioning it as a direct competitor to existing market leaders. Solana’s regulatory clarity, especially post-, and its surge in daily active addresses (~4 million) created fertile ground for USDG’s ascent.
How Are Markets and Rivals Reacting?
USDG’s multi-chain model and institutional-grade compliance are shifting the competitive landscape. USDT and USDC still hold the largest stablecoin shares, but USDG’s “partner yield model” which shares earnings with ecosystem participants could disrupt entrenched positions.
Stablecoin market watchers note that USDG’s approach of balancing regulatory security and appeals to both conservative financial players and aggressive traders. USDG is already viewing integrations with top platforms, wallets, and payment platforms, and is poised to tap into the projected $300 billion stablecoin market by year end.
Investor Takeaway
What’s Next: Can USDG Sustain Growth?
Future upside hinges on USDG’s ability to deepen cross-chain integrations (ETH, Solana, and beyond), preserve its regulatory edge, and maintain lucrative yield offerings in a rising rate environment. Risks remain: rapid growth could draw enhanced scrutiny from global regulators, while technical vulnerabilities in newer protocols could threaten multi-chain assets.
With USDG now the largegest “new” stablecoin on Solana, all eyes are on whether its adoption can be sustained in the face of competition from USDC and USDT, evolving DeFi trends, and shifting regulatory guidance. For traders and fintech strategists, USDG’s next moves, especially expansion plans and additional liquidity partnerships will provide critical data on the future of institutional-grade stablecoins.
