[Ethereum Stablecoin Market Share Drops from 90% to 65%, Ethereum Remains the Primary Chain for Stablecoin Issuance] According to a report by Golden Finance on April 3, citing the latest data from Dune and Visa, Ethereum's market share in non-USD stablecoin supply has dropped from 90% at the beginning of 2023 to 65% as of February 2026, indicating that other blockchains are rapidly capturing market share. Nevertheless, Ethereum remains the primary chain for stablecoin issuance. It is worth noting that Ethereum ranks only fifth in terms of the number of independent senders within the stablecoin network, but the overall user adoption rate of its ecosystem continues to grow. The number of independent senders has surged from 2,000 people in the same period last year to 12,000 people, reflecting the rapid expansion of the stablecoin ecosystem.