Ethereum holds 54.1% of $300.3B stablecoin supply across 47 chains

Stablecoins now total $300.3 billion, spread across 47 blockchains. Ethereum holds 54.1% of that supply, and Tron holds 31.4%, according to figures shared on X. Those two chains together account for more than 85% of all stablecoin supply. The remaining 45 networks share what is left. The numbers, and the fine print The total is a milestone. Stablecoins are crypto tokens built to track a fiat currency, usually the US dollar, and they now form a market worth roughly $300 billion. Research findings put total supply at an estimated $300.3 billion to $302 billion as of early to mid-October 2026. Ethereum’s exact share depends on who is counting. Across data sources, its slice of supply ranged from 47.7% to 54.2% during the same period. Stablecoin Beat, measuring as of October 19, 2026, put Ethereum at around 48.4% and Tron at 31.5%. Other readings place Tron at approximately 31.2% to 31.5% as of mid-October. The quarterly trend is where the story gets sharper. During Q3 2026, Tron added about $5 billion in stablecoin supply. Over the same stretch, Ethereum shed around $4.9 billion. Supply versus usage Tron processed approximately 73% of stablecoin transfer volume in Q3 2026, according t...