On-Chain Activity Spikes as FEFER Gains Traction The @Stable network recorded more than 167,000 transactions in a single 24-hour window, driven by a sharp surge in demand for $FEFER, the netw
The @Stable network recorded more than 167,000 transactions in a single 24-hour window, driven by a sharp surge in demand for $FEFER, the network's first memecoin. The spike marks one of the most active periods the protocol has seen since its mainnet launch and underscores how quickly speculative activity can translate into real infrastructure pressure on newer Layer 1 networks.
Stable is a Layer 1 blockchain built specifically for stablecoin transactions, using USDT as its native gas token. The network is designed specifically for stablecoin transactions and launched its mainnet in New York, unveiling the Stable Foundation and its native STABLE token alongside it. The project raised a $28 million seed round led by Bitfinex, Hack VC, and USDT0, with notable backers including Tether CEO Paolo Ardoino and Anchorage CEO Nathan McCauley.
The sustained demand for $FEFER has prompted the protocol to move quickly on infrastructure improvements. The team is deploying deeper liquidity for cross-chain bridging and working to strengthen RPC performance to accommodate the wave of new participants entering the network.
The response reflects a broader challenge facing purpose-built stablecoin chains: speculative activity, particularly around memecoins, can generate transaction volumes that rival or exceed those from core payment use cases, testing the limits of infrastructure that was designed for a different load profile. General-purpose chains price blockspace by auction, meaning stablecoin transfers compete with memecoin activity for inclusion, which can cause fees to swing sharply and disrupt predictable payment flows. Stable's architecture, which uses USDT for gas, is designed to avoid that dynamic, but the $FEFER pump has put that design under real-world stress for the first time at scale.
The team has not yet disclosed a timeline for completing the upgrades, but the speed of the response suggests the protocol is treating network reliability as a priority as it looks to attract both retail and institutional users.
Sources:The Block: Stable launches mainnet and native tokenMessari: Stable Mainnet and Token Generation Event
