Most stablecoin value settles on a small number of chains, and the split moves. This index tracks USD-pegged stablecoin supply across 8 chains, measured daily from on-chain data and recorded as a dated series since 2026-08-07. As of 2026-10-10, Ethereum holds the largest share at $144.90B (51.3% of the tracked total).
Stablecoin supply by chain — 2026-10-10
| Chain | Stablecoin supply | Share | Change vs our last reading |
|---|---|---|---|
| Ethereum | $144.90B | 51.3% | -0.83% |
| Tron | $94.98B | 33.6% | +1.08% |
| Solana | $16.06B | 5.7% | -0.04% |
| BSC | $13.31B | 4.7% | +0.05% |
| Base | $5.21B | 1.8% | +0.95% |
| Arbitrum | $3.79B | 1.3% | -3.43% |
| Polygon | $2.92B | 1.0% | -0.25% |
| Avalanche | $1.41B | 0.5% | +1.72% |
Change column compares against our own previously recorded reading (1 days); “—” means we do not yet hold a prior reading for that chain.
Key takeaways
- Ethereum holds $144.90B (51.3% of the tracked total), down 0.83% since our last reading.
- Tron holds $94.98B (33.6% of the tracked total), up 1.08% since our last reading.
- Solana holds $16.06B (5.7% of the tracked total), down 0.04% since our last reading.
- The top chain accounts for 51.3% of tracked stablecoin supply; the top three account for 90.6%.
Methodology
- What is measured: Total USD-pegged stablecoin circulating supply on each chain.
- Chains covered: Ethereum, Tron, Solana, BSC, Arbitrum, Avalanche, Polygon, Base.
- Cadence: read daily and recorded as a dated row per chain; this page is updated in place — it is one permanent URL, not a new post per update.
- Series held: 65 dated day(s), 2026-08-07 to 2026-10-10.
- Sources: stablecoins.llama.fi, defillama.com/stablecoins. Figures are read directly from these public APIs; we do not adjust or model them.
- Limits: provider coverage differs by chain, so a chain may be absent when its provider returns no reading. Percentages are shares of the tracked set, not of the entire market.
Related analysis
- Ethereum stablecoin reserves swell while DEX trading collapses, signaling dormant liquidity
- Tron’s stablecoin dominance grows as trading activity surges but DEX volume remains marginal to ecosystem size
- BSC stablecoin reserves grow while DEX volume gains slow, signaling capital buildup ahead of activity
- BSC liquidity locks climb 17% while trading momentum fades 15%, signaling capital influx outpacing activity
- BSC liquidity builds while trading falters—capital locked in DeFi as DEX volume drops 31%
- Avalanche trading surges 180% while stablecoin reserves grow just 10%, widening liquidity-to-activity gap
Which blockchain holds the most stablecoin supply?
Ethereum, at $144.90B — 51.3% of the 8 chains tracked here as of 2026-10-10.
This page reports measured on-chain data. It is not investment advice, and nothing here is a forecast.
