Ethereum and TRON hold nearly 84% of stablecoin market
Ethereum leads with $84.6 billion, while TRON holds $59.8 billion, driven by demand for Tether.
Ethereum and TRON continue to dominate the stablecoin market, controlling a combined $144.4 billion, which accounts for nearly 84% of the total supply. According to CoinGecko, Ethereum leads with $84.6 billion, while TRON holds $59.8 billion, primarily driven by demand for Tether.
Despite growth in both networks, Ethereum’s market share has dipped, influenced by factors such as the Terra UST collapse and the rise of layer 2 solutions. TRON also saw its market share shrink despite increasing supply, as the stablecoin landscape diversifies.
Other networks, such as the BNB Chain, have faced challenges, notably a sharp decline in stablecoin supply due to Binance USD’s regulatory issues. However, newer blockchains like Coinbase’s Base rapidly growing, indicating a more competitive future. Stablecoins are playing an increasing role in global finance, with their usage expanding in emerging markets for purposes beyond crypto trading.
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