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 2026-08-29, Ethereum holds the largest share at $147.45B (52.1% of the tracked total).
Stablecoin supply by chain — 2026-08-29
| Chain | Stablecoin supply | Share | Change vs our last reading |
|---|---|---|---|
| Ethereum | $147.45B | 52.1% | +0.10% |
| Tron | $93.42B | 33.0% | +0.07% |
| Solana | $15.93B | 5.6% | -0.19% |
| BSC | $13.39B | 4.7% | +0.07% |
| Base | $4.92B | 1.7% | -1.01% |
| Arbitrum | $3.59B | 1.3% | +1.23% |
| Polygon | $3.08B | 1.1% | +0.07% |
| Avalanche | $1.45B | 0.5% | +0.30% |
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 $147.45B (52.1% of the tracked total), up 0.10% since our last reading.
- Tron holds $93.42B (33.0% of the tracked total), up 0.07% since our last reading.
- Solana holds $15.93B (5.6% of the tracked total), down 0.19% since our last reading.
- The top chain accounts for 52.1% of tracked stablecoin supply; the top three account for 90.7%.
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: 23 dated day(s), 2026-08-07 to 2026-08-29.
- 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
- Avalanche trading surges 180% while stablecoin reserves grow just 10%, widening liquidity-to-activity gap
- Solana DEX volume surges 42% while stablecoin liquidity shrinks, signaling trader reliance on external funding.
- 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
Which blockchain holds the most stablecoin supply?
Ethereum, at $147.45B — 52.1% of the 8 chains tracked here as of 2026-08-29.
This page reports measured on-chain data. It is not investment advice, and nothing here is a forecast.
