Stablecoin adoption continues to expand across blockchain platforms, with Tron emerging as the most widely held network by the number of stablecoin holders. In Q3 2026, Tron had an average of 76.53 million stablecoin holders, accounting for approximately 40.45% of all stablecoin holders across the 45 blockchain platforms monitored.
That figure places Tron significantly ahead of Ethereum, which recorded an average of 26.32 million stablecoin holders. The results reflect the increasing use of stablecoins as a medium of exchange for transfers and payments, as well as growing demand to move digital money.
Tron's 30-day average has remained 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 in stablecoin adoption by holder numbers, Ripple USD (RLUSD) is gaining ground through rising supply and inflows. The current circulating supply for RLUSD has reached over $2.5 billion.
Although the increase represented a gain of $150 million for RLUSD, it does not appear to reflect new investor demand. Instead, it resulted from Ripple's massive minting effort.
RLUSD still trails its historical high of $2.632 billion, leaving potential for future growth. Continued inflows and increased use of the asset will ultimately determine whether this increase in circulating supply results in additional long-term adoption and competitive advantage in the market.
Usage and concentration
The rise in stablecoin holders and RLUSD supply raises a bigger question: are users actively moving these assets across networks? While Tron shows actual use of these assets, Tether (USDT) accounts for 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
Tron (TRX) leads stablecoin adoption, with 76.53 million holders and strong USDT activity. Ripple USD (RLUSD) has surpassed $2.5 billion in supply, but XRPL usage remains weaker.
