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Wu said that Dune data shows that as of May 2026, Ethereum currently carries about 55% of the stablecoin supply, with approximately $340 billion in stablecoins, nearly $190 billion of which is on Ethereum; Tron has about $90 billion, and the remaining chains total about $60 billion. Data indicates that the total stablecoin supply has nearly doubled in the past 24 months, but Ethereum's share remains stable. Overall, stablecoin balances are still highly concentrated on the Ethereum and Tron chains.