Stablecoin Supply by Chain
Dune-tracked USD stablecoin balances by blockchain as of 2026-07-18; this ranks balance stock, not TVL, liquidity, or adoption.
Quick answer
As of 2026-07-18, Ethereum held $179.5B (54.2%) of $330.9B in Dune-tracked USD stablecoin balances, followed by Tron with $92.3B (27.9%).
| Chain | Share of tracked balances | Tracked balance | Leading stablecoin | Leading stablecoin share | Tracked assets | As of |
|---|---|---|---|---|---|---|
| Ethereum | 54.2% | $179.49B | USDT | 55.6% | 74 | Jul 18, 2026 |
| Tron | 27.9% | $92.32B | USDT | 98.4% | 6 | Jul 18, 2026 |
| Solana | 4.9% | $16.15B | USDC | 45.1% | 30 | Jul 18, 2026 |
| BNB | 4.2% | $13.81B | USDT | 66.5% | 33 | Jul 18, 2026 |
| HyperEVM | 1.8% | $5.86B | USDC | 96.9% | 10 | Jul 18, 2026 |
| Arbitrum | 1.4% | $4.74B | USDC | 55.4% | 24 | Jul 18, 2026 |
| Other chains | 5.6% | $18.56B | Other assets | 41.7% | 77 | Jul 18, 2026 |
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
- Tracked USD stablecoin balances by chain as of 2026-07-18.
- Asset mix inside each chain in the same Dune snapshot.
What it does not establish
- Do not infer liquidity depth, demand, adoption, active users, peg safety, reserves, redemption capacity, solvency, or fresh fiat inflow from balance-stock data alone.
- Do not describe total tracked balances as circulating supply or market cap.
- Do not infer issuer market power, manipulation, or control from balance concentration or chain distribution alone.
Scope noteStablecoin supply by chain is balance-stock evidence, not proof of usage, liquidity, demand, reserves, or bridge flow.
What you should know about this chart
- Top chains in this snapshot: Ethereum 54.2%, Tron 27.9%, Solana 4.9%.
- Tron is almost a single-asset stablecoin chain in this snapshot: USDT accounts for 98.4% of its tracked stablecoin balance.
- Ethereum has a more mixed stablecoin asset stack; USDT is its largest bucket at 55.6%.
- The aggregated long tail labeled Other chains holds 5.6%; it is not ranked as an individual blockchain.
- All chain shares on this page use the same tracked balance denominator for the displayed date.
Methodology
How this metric is calculated and what the denominator includes.
How this metric is calculated
Rows come from Dune stablecoins_multichain.balances on the displayed snapshot date, filtered to USD stablecoins and summed by blockchain and asset bucket. Chain totals use the same in-scope denominator for that date.
The reviewed evidence remains available, but its evidence date or scheduled update is outside the freshness window.
Frequently asked questions
Which chain holds the most stablecoin supply?
As of 2026-07-18, Ethereum is the largest chain in this Dune snapshot, with 54.2% of tracked USD stablecoin balances. Other chains is a grouped long-tail bucket, not one blockchain.
Why is Tron's stablecoin balance almost all USDT?
Within this source and date, USDT accounts for 98.4% of Tron's tracked stablecoin balance. The chart shows the asset mix; it does not explain the user, venue, issuer, or bridge reasons behind that mix.
Is stablecoin supply by chain the same as market cap or usage?
No. This page uses Dune balance rows by chain; use separate market-cap, activity, liquidity, or flow data for those questions.
Compare with this stablecoin supply shelf
Stablecoin Supply Concentration by Asset
Asset-level concentration of Dune-tracked USD stablecoin balances.
Stablecoin Supply: Total Tracked Balances
Dune-tracked USD stablecoin balances over time, shown as supply stock rather than market cap, usage, demand, or liquidity.