SUMMARY
- Solana’s SOL token surges 5% after Visa's USDC announcement.
- Visa's venture promises faster, modern cross-border transactions.
- Analysts predict a $3 trillion stablecoin market in the next five years.
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Move over, Ethereum; there's a new player in town. Solana's native token, SOL, experienced a sudden surge, all thanks to an exciting announcement from the payments juggernaut, Visa.
Instead of the usual crypto suspects, like Bitcoin and Ether which were lounging around with not much action, SOL witnessed a 5% hike and landed comfortably at $20.50.
Why the sudden popularity, you ask? Visa's decision to employ the USDC stablecoin over Solana's network is the latest gossip in the crypto corridors. This significant development is not just a feather in Solana's cap but also promises swifter cross-border transactions, a modern twist to Visa's financial offerings.
But Solana isn't just relying on this alone. Known for its efficiency, cost-effective nature, and a staggering 101% year-to-date gain, developers have a soft spot for this platform. Meanwhile, in another corner of the financial world, PayPal has unveiled its own stablecoin, designed to grease the wheels of virtual transactions.
Bernstein, the esteemed analyst, dubbed stablecoins the "monster killer app" of crypto, forecasting a whopping market potential of nearly $3 trillion in the next half-decade.
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