BNB Chain added 985,000 new stablecoin holders in the week leading up to September 28, more than half of the combined growth across the top ten blockchains. USDT drove most of the gain, but the network still isn't where fresh stablecoin supply is landing.
BNB Chain onboarded 985,000 new stablecoin holders in the seven days leading up to September 28, a total that alone made up more than half of the combined growth across all top-ten blockchains during the same period. Base, the closest competitor, added just 202,500 new holders.
The jump extends a run that has been building for months. BNB Chain overtook Tron in August to become the network with the most stablecoin-holding addresses, reaching roughly 79.3 to 80 million wallets against Tron's 76 million. BNB Chain held only about 42 million stablecoin addresses in late 2024.
USDT drives the growth
Tether's USDT accounted for approximately 845,900 of the new addresses, by far the dominant driver of the network's growth spurt. Circle's USDC contributed another 390,800 new holders. Combined, Tether and Circle represented roughly 95% of new stablecoin addresses across the top ten chains for the week.
Wallets grow, but supply flows elsewhere
While BNB Chain wins the wallet count race decisively, new stablecoin supply has been flowing primarily to Solana, Ethereum, and Hyperliquid. Total stablecoin supply across all networks sat at approximately $302.5 billion as of the latest data, a modest month-over-month increase, but BNB Chain wasn't the primary destination for those fresh mints.
BNB Chain leads in holder count but not in the total value sitting on its network. The average balance per holder on BNB Chain is considerably smaller than on Ethereum, where institutional-sized positions skew the numbers.
What's fueling the growth
BNB Chain has deployed fee waivers and promotional campaigns to lower the barrier for new wallets, and its compatibility with MetaMask and other popular wallet interfaces keeps friction minimal. Transaction counts and active address metrics on the network have consistently ranked among the highest of any EVM-compatible chain, even during periods when its total value locked lagged behind competitors.
For Tron, which held the stablecoin address crown for years largely on the strength of USDT transfers in Asia, losing the top spot represents a meaningful shift. Tron's 76 million holders is still an enormous number, but the gap keeps widening.
Source: Crypto Briefing
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