. @ethereum still holds ~65% of non-USD stablecoin supply, down from ~90% in early 2023. It remains the default for issuance, even as other chains are catching up. While distribution and activity mostly happens on other chains (it ranks 5th by unique senders), the absolute growth is stunning: 2K to 12K unique senders YoY as of February 2026. Data from our report with @Visa → http:/dune.com/stablecoin-repo...…