Beginning in April 2023, Tron took @ethereum's place as home to the largest share of stablecoin volume. 

But the trend has reversed. Beginning in Feb 2025, and continuing in March and April, Ethereum is once again the home to the largest share of stablecoin volumes.

Ethereum is the world computer. The universal platform for cryptocurrencies, blockchain apps, stablecoins, and decentralized technologies.

data from visa's excellent dashboard here:

data from visa's excellent dashboard here:

https://visaonchainanalytics.com/transactions