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Data: Approximately 65% of the non-USD stablecoin supply is held in Ethereum.
ChainCatcher report message, according to Dune data, Ethereum currently still holds about 65% of the non-USD stablecoin supply, down from about 90% at the beginning of 2023. Even though other chains are catching up, Ethereum remains the default choice for stablecoin issuance.
A Dune report says that while the distribution and activity of stablecoins mainly occur on other chains, Ethereum ranks fifth by the number of unique senders, but its growth rate is rapid. As of February 2026, the number of unique senders has grown from 2000 to 12000, representing a significant year-over-year increase.