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 11, 2026, Tron had the highest single-asset reliance among 10 admitted chains: USDT represented 98.3% of its tracked stablecoin balances. The admitted-chain median was 70.1%.

10 rows

Asset	Name	As of	Chain	Top asset	Supply	Metric Id	Chain Key	Top Asset Supply Usd	Top Asset Share Pct	Chain Hhi	Chain Total Supply Usd	N Tracked Assets	Chain Market Share Pct	Chain Supply Rank	Min Chain Total Supply Usd	Min Tracked Assets	Admission Status	Cross Chain Median Top Asset Share Pct	Top Asset Share Vs Median Pp	Admitted Chain Count
USDC	HyperEVM	2026-07-12	HyperEVM	USDC	$5.61B	stablecoin_chain_single_asset_reliance	hyperevm	$5.61B	96.8%	9,381.13	$5.79B	10	1.7%	$5	$1B	3	admitted	68.1%	+28.7 pp	10
USDC	Base	2026-07-12	Base	USDC	$4.26B	stablecoin_chain_single_asset_reliance	base	$4.26B	91.9%	8,469.57	$4.64B	21	1.4%	$7	$1B	3	admitted	68.1%	+23.8 pp	10
USDC	Arbitrum	2026-07-12	Arbitrum	USDC	$2.62B	stablecoin_chain_single_asset_reliance	arbitrum	$2.62B	55.7%	3,610.38	$4.7B	24	1.4%	$6	$1B	3	admitted	68.1%	-12.4 pp	10
USDC	Solana	2026-07-12	Solana	USDC	$7.5B	stablecoin_chain_single_asset_reliance	solana	$7.5B	45.9%	2,797.16	$16.33B	30	4.9%	$3	$1B	3	admitted	68.1%	-22.2 pp	10
USDC	Polygon	2026-07-12	Polygon	USDC	$1.86B	stablecoin_chain_single_asset_reliance	polygon	$1.86B	42.9%	2,713.22	$4.33B	19	1.3%	$8	$1B	3	admitted	68.1%	-25.2 pp	10
USDG	X Layer	2026-07-12	X Layer	USDG	$1.8B	stablecoin_chain_single_asset_reliance	xlayer	$1.8B	93.5%	8,780.49	$1.93B	4	0.6%	$10	$1B	3	admitted	68.1%	+25.4 pp	10
USDT	Tron	2026-07-12	Tron	USDT	$90.85B	stablecoin_chain_single_asset_reliance	tron	$90.85B	98.3%	9,671.78	$92.39B	6	27.8%	$2	$1B	3	admitted	68.1%	+30.2 pp	10
USDT	Avalanche C-Chain	2026-07-12	Avalanche C-Chain	USDT	$1.85B	stablecoin_chain_single_asset_reliance	avalanche_c	$1.85B	70.4%	5,317.59	$2.62B	19	0.8%	$9	$1B	3	admitted	68.1%	+2.3 pp	10
USDT	BNB Chain	2026-07-12	BNB Chain	USDT	$9.19B	stablecoin_chain_single_asset_reliance	bnb	$9.19B	65.8%	4,623.89	$13.95B	33	4.2%	$4	$1B	3	admitted	68.1%	-2.3 pp	10
USDT	Ethereum	2026-07-12	Ethereum	USDT	$99.88B	stablecoin_chain_single_asset_reliance	ethereum	$99.88B	55.3%	3,875.10	$180.58B	74	54.3%	$1	$1B	3	admitted	68.1%	-12.8 pp	10

Last Updated: 2026-07-14

What you should know about this chart

Largest tracked stablecoin asset share within each admitted chain, with within-chain HHI as supporting composition context.

Measured here

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.

Not answered here

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.

Methodology

How this metric is calculated and what the current 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.

Refresh cadence: weekly. Reviewed evidence is within the current refresh policy.

Frequently asked questions

Which chain relies most on one stablecoin?

Tron ranks highest in this July 11, 2026 snapshot, with USDT at 98.3% of its tracked stablecoin balances.

How is single-asset reliance calculated?

For each admitted chain, the largest tracked stablecoin balance is divided by total tracked stablecoin balances on that chain. The chart also reports asset count and within-chain HHI as context.

Does a high share prove adoption or liquidity?

No. Balance concentration does not establish transaction demand, active users, liquidity depth, bridge flows, reserves, or peg safety.