Ethereum stablecoin market share falls to record low 46%

Ethereum’s share of stablecoin supply has fallen to a record low of 46%, according to on-chain analyst Tom Wan. Wan said the supply of stablecoins on the Ethereum network has declined by around $32.5 billion over the past year. Over the same period, Tron saw a $16.2 billion increase, lifting its share to 32%, while Hyperliquid and Solana posted increases of $1.6 billion each. Wan added Ethereum was the only network showing a decline.