ChainCatcher report: According to Dune data, Ethereum currently holds approximately 65% of the non-U.S. dollar stablecoin supply, down from about 90% at the beginning of 2023. Although other blockchains are catching up, Ethereum remains the default choice for stablecoin issuance. Dune’s report notes that while stablecoin distribution and activity primarily occur on other chains, Ethereum ranks fifth in the number of unique senders—and is growing rapidly. As of February 2026, the number of unique senders increased from 2,000 to 12,000, representing significant year-over-year growth.
Ethereum Holds 65% of Non-USD Stablecoin Supply, Dune Data Shows
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Summary
Ethereum news shows the network still holds approximately 65% of the non-USD stablecoin supply as of early 2026, down from 90% in 2023. Dune data reveals Ethereum remains the top choice for stablecoin issuance despite increasing competition. While most stablecoin activity shifts to other chains, Ethereum ranks fifth in unique senders, growing from 2,000 to 12,000 by February 2026. Ethereum ecosystem news highlights its continued dominance in stablecoin infrastructure.
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