According to @MilkRoadDaily, more than $1B in proceeds from the BLSH IPO were settled on Solana, pushing stablecoin balances on the network back to cycle highs (source: @MilkRoadDaily on X, Aug 31, 2025). The source characterizes these elevated stablecoin balances as dry powder that drives real onchain activity, highlighting a near-term liquidity driver for Solana’s trading and DeFi ecosystem (source: @MilkRoadDaily on X, Aug 31, 2025).