In February, the share of the TRON network in the total volume of transactions involving stablecoins dropped to 14.6%. This is according to data from Visa's analytics dashboard.
Source: Visa.For comparison, at the beginning of 2025, this figure was 36.45%. The statistics indicate a significant decline in the blockchain's dominance in this segment within just one month.
Visa's calculations utilize a metric for adjusted volume. The service's methodology intentionally filters out bot transactions, high-frequency trading, and internal transactions of smart contracts. The analysts aim to reflect the actual use of stablecoins as a means of payment.
The total volume of stablecoin transactions across all blockchains reached $8.8 trillion over the year. However, the adjusted figure, which reflects real economic activity, amounted to only $1.4 trillion.
Source: Visa.USDC Surpasses USDT
Since the beginning of the year, the share of USDC in the total transaction volume has consistently exceeded 50%. This coin has stripped USDT of its status as the dominant asset in the segment.
Source: Visa.According to Visa, the redistribution of demand has been reflected in the blockchains. Last month, Solana took the lead in stablecoin payments, surpassing traditional leaders TRON and Ethereum.
This month, the situation has adjusted. Ethereum regained the top spot in the rankings, followed by Solana and TRON.
It’s worth noting that in March, billionaire Stanley Druckenmiller stated that stablecoins could become the foundation of a global payment system within the next 10-15 years.