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 2026-08-08, Ethereum holds the largest share at $147.23B (52.5% of the tracked total).
Stablecoin supply by chain — 2026-08-08
| Chain | Stablecoin supply | Share | Change vs our last reading |
|---|---|---|---|
| Ethereum | $147.23B | 52.5% | +0.20% |
| Tron | $91.32B | 32.6% | -0.07% |
| Solana | $15.59B | 5.6% | -0.22% |
| BSC | $13.37B | 4.8% | -3.73% |
| Base | $4.80B | 1.7% | -0.48% |
| Arbitrum | $3.47B | 1.2% | -2.43% |
| Polygon | $3.05B | 1.1% | -0.43% |
| Avalanche | $1.57B | 0.6% | -1.51% |
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 $147.23B (52.5% of the tracked total), up 0.20% since our last reading.
- Tron holds $91.32B (32.6% of the tracked total), down 0.07% since our last reading.
- Solana holds $15.59B (5.6% of the tracked total), down 0.22% since our last reading.
- The top chain accounts for 52.5% 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: 2 dated day(s), 2026-08-07 to 2026-08-08.
- 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 supply shrinks while DeFi capital grows, signaling liquidity shift away from trading
- Tron hoards stablecoin settlement as DEX activity collapses 59% in a month
- Avalanche stablecoin flight outpaces trading collapse as USDT exits faster than DEX volume declines
- Ethereum stablecoin supply shrinks while DeFi activity grows, signaling capital flight from trading to locked protocols
- Solana’s DEX volume craters 45% while stablecoin liquidity holds firm, signaling capital caution amid sustained trading infrastructure.
Which blockchain holds the most stablecoin supply?
Ethereum, at $147.23B — 52.5% of the 8 chains tracked here as of 2026-08-08.
This page reports measured on-chain data. It is not investment advice, and nothing here is a forecast.
