In February, the share of the TRON network in the total volume of transactions with stablecoins fell to 14.6%, according to data from Visa’s analytical panel.
For comparison, at the beginning of 2025, the figure stood at 36.45%. The statistics indicate a significant decline in the blockchain’s dominance in this segment within just one month.
Visa employs a metric of adjusted volume in its calculations. The service’s methodology deliberately filters out bot operations, high-frequency trading, and internal smart contract transactions. The analysts aim to demonstrate the real 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, reflecting real economic activity, was only $1.4 trillion.
USDC Surpasses USDT
Since the beginning of the year, USDC‘s share in the total transaction volume has consistently exceeded 50%. The coin has dethroned USDT as the dominant asset in the segment.
According to Visa, the shift in demand has impacted blockchains. Last month, Solana took the lead in stablecoin payments, surpassing traditional leaders TRON and Ethereum.
This month, the situation adjusted. Ethereum reclaimed the top spot, followed by Solana and TRON.
In March, billionaire Stanley Druckenmiller stated that stablecoins could form the foundation of a global payment system within the next 10-15 years.