Which chains rely most on a single stablecoin?
Chains with at least $1B in tracked balances and at least three tracked canonical asset labels.
Quick answer
As of July 18, 2026, Tron had the highest top-asset share among 10 admitted chains: USDT represented 98.4% of that chain's tracked stablecoin balances. Here, single-asset reliance means top-asset share; the admitted-chain median was 68.9%.
| Chain | Top stablecoin | Top stablecoin share | Within-chain HHI | Tracked assets | Tracked balance |
|---|---|---|---|---|---|
| Tron | USDT | 98.4% | 9,687.17 | 6 | $92.32B |
| HyperEVM | USDC | 96.9% | 9,399.33 | 10 | $5.86B |
| X Layer | USDG | 93.5% | 8,778.89 | 4 | $1.94B |
| Base | USDC | 91.5% | 8,407.80 | 21 | $4.63B |
| Avalanche C-Chain | USDT | 71.3% | 5,406.58 | 19 | $2.59B |
| BNB Chain | USDT | 66.5% | 4,704.99 | 33 | $13.81B |
| Ethereum | USDT | 55.6% | 3,921.09 | 74 | $179.49B |
| Arbitrum | USDC | 55.4% | 3,535.66 | 24 | $4.74B |
| Solana | USDC | 45.1% | 2,742.76 | 30 | $16.15B |
| Polygon | USDC | 42.7% | 2,710.07 | 19 | $4.23B |
Claim boundary
Read the claim in scope
The chart is evidence for the observations below, within its stated source, denominator, and date range.
What this chart shows
- Latest reviewed per-chain top stablecoin share and within-chain HHI from stablecoin_highway_extract.v1 rows under the declared asset policy and chain admission thresholds.
What it does not establish
- Chain adoption, chain liquidity, or bridge-flow claims without separate evidence.
- How a single stablecoin distributes across chains, or cross-chain fragmentation / entropy.
- DOJ/FTC HHI-band interpretation; within-chain HHI should use cross-chain median or THD issuer concentration context instead.
- Canonical asset claims when bridged/native labels have not been reviewed by the asset policy.
Scope noteChain adoption, chain liquidity, or bridge-flow claims without separate evidence. How a single stablecoin distributes across chains, or cross-chain fragmentation / entropy. DOJ/FTC HHI-band interpretation; within-chain HHI should use cross-chain median or THD issuer concentration context instead. Canonical asset claims when bridged/native labels have not been reviewed by the asset policy.
What you should know about this chart
- Largest tracked stablecoin asset share within each admitted chain, with within-chain HHI as supporting composition context.
Methodology
How this metric is calculated and what the denominator includes.
How this metric is calculated
The chart derives each chain's top-asset share and HHI from one cached stablecoin_highway_extract.v1 snapshot. It admits only chains with at least $1B in tracked balances and three tracked asset labels; native and bridged labels remain separate.
Using the last successful update because the latest source check did not produce a promotable result.
Frequently asked questions
Which chain relies most on a single stablecoin?
As of July 18, 2026, Tron had the highest top-asset share among 10 admitted chains: USDT represented 98.4% of that chain's tracked stablecoin balances. Here, single-asset reliance means top-asset share; the admitted-chain median was 68.9%.
Which chains are included in this comparison?
The ranking includes chains with at least $1 billion in tracked stablecoin balances and at least three tracked canonical asset labels in the displayed snapshot. A chain below either cutoff is outside this comparison; that does not prove it has no single-asset concentration.
How do top-asset share and within-chain HHI differ?
Top-asset share measures how much of a chain's tracked stablecoin balance belongs to its largest asset. Within-chain HHI uses every tracked asset share on a 0-10,000 scale, so it describes the concentration of the full asset mix.
Does high single-asset reliance prove chain adoption?
No. It describes the tracked stablecoin mix on a chain; it does not prove adoption, liquidity, bridge net flow, payment activity, demand, reserves, peg safety, or solvency.