Woofun AI reports that Solana’s stablecoin liquidity has reached $4.81B, marking a structural shift away from Tether and Circle dominance as new issuers including USD1, World Liberty Fi, USDGo, Anchorage Digital, and OSL gain market share amid regulatory clarity from MiCAR and the Clarity Act.

Market share data reveals a fragmented landscape where USDC holds 58.2% and USDT commands 27% of the $15.15 billion total stablecoin supply.

Meanwhile, PyUSD accounts for 4.9% and Global Dollar (USDG) has climbed to 4.6%, reflecting a fifteenfold growth trajectory for alternative assets. This diversification underscores a 65% reduction in reliance on the two largest issuers.

Woofun AI data shows, Jupiter has emerged as a critical infrastructure layer, integrating real-world assets (RWA) to serve 300,000 users and capture $1.75 billion in trading volume. The platform recorded $288 million in new flows, generating $4.6 million in fees, with $2.24 million attributed specifically to RWA transactions. This fee structure highlights the commercial viability of hybrid asset classes.

The rise of Global Dollar (USDG) and PyUSD signals a maturing ecosystem where regulatory-compliant issuers compete directly with established giants. This diversification reduces systemic risk while expanding yield opportunities for institutional participants.