Gross Stablecoin Transfer Volume by Chain
USD stablecoin transfer rows covered by Dune stablecoins_multichain.transfers.
Quick answer
From July 4, 2026 to July 11, 2026, Ethereum recorded $571.3B in priced gross stablecoin transfer volume, followed by Base at $336.1B and Tron at $173.7B. The top three accounted for 79.8% of the $1.35T included total.
| Chain | Gross transfer volume | Share of included volume | Transfer events | Pricing coverage | Chains represented |
|---|---|---|---|---|---|
| Ethereum | $571.31B | 42.2% | 10,351,460 | 100.0% | 1 |
| Base | $336.1B | 24.8% | 21,135,375 | 100.0% | 1 |
| Tron | $173.67B | 12.8% | 16,627,527 | 100.0% | 1 |
| Solana | $127.83B | 9.4% | 62,066,120 | 100.0% | 1 |
| BNB | $46.33B | 3.4% | 106,087,286 | 100.0% | 1 |
| Polygon | $29.42B | 2.2% | 155,949,940 | 100.0% | 1 |
| Optimism | $27.21B | 2.0% | 5,388,939 | 100.0% | 1 |
| Arbitrum | $12.59B | 0.9% | 10,471,296 | 100.0% | 1 |
| HyperEVM | $9.18B | 0.7% | 1,549,389 | 100.0% | 1 |
| Avalanche C Chain | $4.93B | 0.4% | 2,240,702 | 100.0% | 1 |
| Other chains | $15.36B | 1.1% | 63,283,413 | 100.0% | 28 |
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
- Rank included chains by priced gross stablecoin transfer notional over the reviewed seven-day window.
- Compare each chain's share of the same included gross transfer-volume denominator.
- Report transfer-event and pricing coverage context for the same source window.
What it does not establish
- Gross transfer volume is not net flow: the same units can be counted repeatedly.
- Self-transfers, bridges, routers, DEX multi-leg transactions, bots, minting, and burning can increase raw transfer notional.
- Do not infer payments, users, adoption, liquidity, economic value, organic demand, or causal activity.
- Do not compare this raw gross measure directly with adjusted Visa or Artemis series unless their filters and coverage are aligned.
Scope noteGross transfer volume can count the same units repeatedly and is not net flow, payments, users, or adoption.
What you should know about this chart
- Seven-day sum of positive USD-priced stablecoin transfer notional by chain.
Methodology
How this metric is calculated and what the denominator includes.
How this metric is calculated
This chart sums positive USD-priced stablecoin transfer notional by chain over one reviewed seven-day window. The start date is exclusive and the end date is inclusive; the top 10 chains are shown separately and the remainder is grouped as Other chains.
Fixed-date source snapshot. Read the displayed data-through date as the evidence date.
Frequently asked questions
Which chain processed the most gross stablecoin transfer volume?
Ethereum ranked first in the reviewed window at $571.3B, or 42.2% of included priced gross transfer volume.
What does gross stablecoin transfer volume measure?
It sums the USD-priced notional of included stablecoin transfer events. Because the same units can move repeatedly, it is a gross activity measure rather than net flow.
Does high stablecoin transfer volume prove payments or adoption?
No. Self-transfers, bridges, routers, DEX transaction legs, bots, minting, and burning can increase raw transfer notional without proving payments, users, demand, or adoption.