Stablecoin adoption continues to grow on various blockchain platforms. Against that growth, TRON appears to be the most widely held platform by the number of stablecoin holders.
In Q3 2026, TRON had an average of 76.53 million stablecoin holders. Therefore, it accounts for approximately 40.45% of all the stablecoin holders on the 45 blockchain platforms that were monitored.
These figures indicate that TRON [TRX] was significantly ahead of Ethereum [ETH] with an average of 26.32 million stablecoin holders.
These results reflect the increasing use of stablecoins as a medium of exchange for making transfers and payments and a reflection of the increased demand to move around digital money.
Also, the 30-day average of TRON has been above 79 million in Q4, indicating continued support for the platform. This growing user base could attract more stablecoin activity, deepen network liquidity, and reinforce TRON’s position in digital payments.
RLUSD supply surpasses $2.5B
While TRON leads stablecoin adoption by holder numbers, Ripple USD [RLUSD] is gaining ground through rising supply and inflows. Notably, the current circulation supply for RLUSD has reached over $2.5 billion.
Although this rapid price increase represented a gain of $150 million for RLUSD, it does not appear that this represents new investor demand. Instead, it resulted from Ripple’s massive minting effort.
RLUSD still trails its historical high of $2.632 billion, so there exists potential for future growth. Continued inflows and increased use of the asset will ultimately determine if this increase in circulation supply results in additional long-term adoption and competitive advantage in the market.
The rise in stablecoin holders and RLUSD supply now raises a bigger question: are users actively moving these assets across networks? While TRON shows actual use of these assets, it appears that Tether [USDT] accounts nearly 98% of TRON’s stablecoin supply, standing at $94.3 billion.
This concentration supports heavy payment and transfer activity, reflected in 3.9 million daily active addresses and over 12 million transactions. The network also generates roughly $1.1 million in daily fees, showing the economic value of this activity.
Final Summary
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TRON [TRX] leads stablecoin adoption, with 76.53 million holders and strong USDT activity.
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Ripple USD [RLUSD] has surpassed $2.5 billion in supply, but XRPL usage remains weaker.