TRON Dominates Stablecoin Transfer Volume in Q3 2026 as Ethereum Supply Share Slips

TRON handled roughly 73% of global stablecoin transaction volume in September 2026, outpacing Ethereum's 15% share, even as Ethereum maintained a 54.1% lead in total stablecoin supply across 47 blockchains. In the third quarter of 2026, Ethereum shed approximately $4.9 billion in stablecoin supply, while TRON added $5.0 billion to reach a 31.4% market share. TRON's circulating Tether supply reached a record $92.7 billion in the third quarter, driving $2.2126 trillion in quarterly settlements, up 5.1% quarter-over-quarter, and generating $82.7 million in protocol fees.