ChainCatcher reports that, according to a report released by The Block Research on September 8, during the period from October 2025 to August 2026, when Bitcoin declined by more than 50% and the total cryptocurrency market cap decreased by over $2 trillion, the total supply of stablecoins remained around $290 billion, approximately 90% of which was issued by Tether and Circle. Over the past 365 days, stablecoin transfer volume exceeded $90 trillion, more than doubling since 2025. The daily turnover rate rose from 0.38x in August 2024 to 0.78x in August 2026. Ethereum holds approximately $147 billion in stablecoins (daily turnover rate of 0.51x), Base holds $4.5 billion (16.7x/day), Solana holds around $13 billion (1.08x/day), and Tron holds over $90 billion (0.25x/day). The Bank for International Settlements estimates that stablecoin transaction volume reached approximately $35 trillion in 2025, with payments-related transactions accounting for 1.1%. Chainalysis data shows that illicit addresses received at least $154 billion in stablecoins in 2025. The GENIUS Act was signed in July 2025. In April 2026, FinCEN and OFAC jointly proposed classifying payment stablecoin issuers as financial institutions under the Bank Secrecy Act; in August, the Treasury Department proposed definitions to delineate the scope of applicability—both remain proposals. Companies such as Paxos, Zerohash, Rain, and Altitude describe transitioning from one-time onboarding KYC to continuous lifecycle monitoring of on-chain behavior, counterparties, turnover rates, and geographic factors.
Stablecoin supply reaches $290 billion, annual transfers exceed $90 trillion
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Summary
Ethereum news: Stablecoin supply remained stable at $290 billion from October 2025 to August 2026, with Tether and Circle controlling 90%. On-chain data shows stablecoin transfers exceeded $90 trillion over the past 365 days, up from 2025. Daily turnover increased to 0.78x in August 2026 from 0.38x in 2024. Ethereum held $147 billion (0.51x/day), Base $45 billion (16.7x/day), Solana $130 billion (1.08x/day), and Tron over $900 billion (0.25x/day).
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