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Paxos' USDG stablecoin market cap jumps 340% to $3.2B, led by X Layer, Robinhood Chain, and Solana

Market News
06 Oct 2026
Crypto Briefing
View Source
Bullish
Paxos' USDG stablecoin market cap jumps 340% to $3.2B, led by X Layer, Robinhood Chain, and Solana

Paxos' Global Dollar stablecoin (USDG) has surged to a $3.2 billion market cap, a 340% increase since its November 2024 launch. Most USDG supply is concentrated on X Layer ($1.51B), Robinhood Chain ($703M), and Solana ($631M), all part of the Global Dollar Network consortium that issues USDG natively on their chains. This native issuance reduces risk compared to bridged tokens. USDG's trading volume hit $21.8 billion on Uniswap in September 2026, with recent expansion to Arbitrum One and DeFi protocols aiming to diversify usage. The stablecoin is fully backed by US dollars and issued under regulated frameworks in Singapore and Europe. Future growth depends on spreading supply and trading volume beyond current dominant partners.

Solana (SOL) is a key chain for USDG, trading at Rp2.151.000 on Pluang as of Oct 06, 2026 23:52 WIB. SOL's market cap is Rp1.274,46 trillion with a 1-day gain of 0.70%. Pluang users show a 68% sell and 32% buy split, holding SOL for about 70 days on average.

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