Ethereum's stablecoin supply share hits record low at 46% as market shifts to Tron and others. - Pluang
Ethereum's share of stablecoin supply across blockchain networks fell to a record low of 46%, with its on-chain stablecoin supply declining by $32.5 billion over the past year.
The total stablecoin supply across the market fell by about $10 billion during the same period, indicating a significant redistribution rather than just an overall decline. This shift highlights growing diversification in stablecoin issuance across different blockchain platforms.
Market Share Shift
Tron gained $16.2 billion in stablecoin supply, reaching 32% market share. Meanwhile, newer networks like Hyperliquid, Solana, and several launched this year collectively added $8.4 billion to the stablecoin ecosystem.
Cryptocurrency Performance
As of Nov 12, 2026, out of 50 major cryptocurrencies priced on Pluang, 31 rose and 18 fell. Notable moves include SXP (Solar) down 46.27% to Rp37 with a typical hold time of 94 days, and ONE (Harmony) down 18.24% to Rp27 with 41% sell and 59% buy order activity and a typical hold time of 153 days.
On the positive side, BAL (Balancer) gained 11.14% to Rp16.297 with a typical hold time of 85 days, demonstrating varied performance across different cryptocurrencies despite the stablecoin market shift.
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