BNB Chain adds 985K stablecoin holders in a single week, dwarfing every other network

BNB Chain onboarded 985,000 new stablecoin holders in the seven days leading up to September 28, a number so large it accounted for more than half of the combined growth across all top-ten blockchains during the same period. The closest competitor, Base, managed 202,500 new holders. The surge deepens a trend that’s been building for months. BNB Chain overtook Tron in August to claim the title of network with the most stablecoin-holding addresses, sitting at roughly 79.3 to 80 million wallets compared to Tron’s 76 million. BNB Chain held only about 42 million stablecoin addresses in late 2024. USDT is doing the heavy lifting Tether’s USDT was responsible for approximately 845,900 of the new addresses, making it the overwhelmingly dominant driver of BNB Chain’s growth spurt. Circle’s USDC contributed another 390,800 new holders. Combined, Tether and Circle represented roughly 95% of new stablecoin addresses across the top ten chains for the week. More wallets, less supply: a curious divergence While BNB Chain is winning the wallet count race decisively, new stablecoin supply has been flowing primarily to Solana, Ethereum, and Hyperliquid. Total stablecoin supply across all networks s...