The native token of the Solana blockchain jumped Tuesday after Visa announced it will expand its stablecoin capabilities to the Ethereum alternative.
Other cryptocurrencies were little changed, with bitcoin hovering below the flat line at $25,803.25 and ether up slightly at $1,640.06.
The move came after Visa announced it will introduce settlement of the USDC stablecoin over the Solana network.
Bernstein has called stablecoins the "monster killer app" for crypto, identifying them as a nearly $3 trillion market over the next five years.
"Going forward, we expect tokenized stablecoins to be a $2.8 trillion market, led by regulated, onshore stablecoins."
Persons:
Solana blockchain, Solana, Ethereum, It's, Bernstein
Organizations:
Visa, Metrics, Solana, PayPal
Locations:
Solana, Krakow, Poland, Visa's