BNB Chain has once again reestablished itself as a major center for stablecoin operation, registering an unbelievable 12 million active USDT (Tether) addresses over the past 30 days.
This benchmark not only underscores the network’s vital role in stablecoin circulation but also complements the user demand that BNB Chain clearly fulfills—a demand for low-fee, almost instant blockchain infrastructure that enables seamless stablecoin transactions.
As recently compiled on-chain data shows, the unique active USDT addresses across all the supported chains have reached a total of 31.1 million. Of that, a massive 74%—or 23.2 million—of that total is shared between BNB Chain and TRON DAO, both of which networks not only account for a sizable chunk of overall stablecoin usage, but also demonstrate how much BNB Chain and TRON DAO have advanced to the next step in their respective roadmaps.
BNB Chain hits 12M active USDT addresses
In the last 30 days, @BNBCHAIN recorded 12M active $USDT addresses, while the total number of unique active $USDT addresses across all chains reached 31.1M.
Together, @BNBCHAIN and @trondao account for 74% (23.2M) of all active $USDT… pic.twitter.com/gtmnTjywKg
— CryptoRank.io (@CryptoRank_io) April 20, 2025
BNB Chain and TRON DAO Lead Stablecoin Adoption
Many blockchain ecosystems derive their lifeblood from stablecoins, especially in places where you can’t rely on traditional banking infrastructure. They use USDT as a dollar-pegged bridge between their decentralized platforms and the world of traditional finance. It, therefore, remains the most widely used stablecoin. Stablecoins and USDT have become the lifeblood of many blockchain ecosystems.
USDT addresses being active on the BNB chain illustrate its positioning in today’s crypto market. Regarding these addresses, the usual critique of the BNB chain—concerning its low on-chain activity—does not apply. For a sufficiently lengthy period, the BNB chain has evidently been a competitive settlement layer for many real-world use cases, not just for DeFi applications. Seemingly, the settlement experience on the BNB chain can rival that on Ethereum.
At the same time, the TRON DAO also cannot be overlooked in this space. As a major player in its own right, TRON has seen its usage of USDT surge steadily for several years, and much of that surge is coming from exactly the same regions that BNB Chain is finding utility in: Southeast Asia and Latin America. Adoptions in these areas have been primarily for remittances and peer-to-peer transfers. Together, TRON and BNB Chain provide a significant portion of the real-world USDT utility that exists today.
Solana Loses Ground to Arbitrum, Polygon, and Celo
Although BNB Chain and TRON continue to hold the upper hand, competition is tightening among the other Layer-1 and Layer-2 platforms. To our surprise, Arbitrum, Polygon (0xPolygon), and Celo all surpassed Solana in terms of active USDT addresses for the 30-day period ending October 3. 2023. This might suggest that users are not only leaving the second-largest Layer-1 platform in the world for these addresses but also flocking to those ecosystems for whatever reason.
One of the Ethereum Layer-2 scaling solutions, Arbitrum, is the fastest-growing alternative across the Ethereum ecosystem. It has positioned itself as a viable route for dApp users looking to avoid the high fees of Ethereum mainnet transactions. With the growing ecosystem of dApps on Arbitrum and the significantly lower fees compared to Ethereum’s mainnet, Arbitrum is that alternative for users who stay within the Ethereum ecosystem.
Developers and users have long favored Polygon for its compatibility with the Ethereum Virtual Machine (EVM), for its scalability, and for the diverse decentralized finance (DeFi) and gaming applications that run on it. The number of active addresses holding USDT on Polygon continues to rise, showing that USDT—if not the stablecoin holy grail—remains a key part of the crypto economics that underpin unregulated, affordable, reliable, and somewhat private economic activity.
Celo, a mobile-first blockchain focused on financial inclusion, also experienced a surge in USDT usage. Its recent uptick could be traced to its burgeoning penetration of emerging markets and an intensified interest from mission-focused projects working to serve unbanked global citizens.
Space previously allocated to Solana, once considered a contender for the future of crypto due to its swift and inexpensive transactions, now appears to be more modestly occupied. Solana certainly boasts a sincere user and developer base; however, recent advancement problems seem to have reduced the amount of interaction between stablecoins and Solana. Without a fresh supply of stablecoins in the Solana ecosystem, the situation could amount to a vicious cycle.
Looking Ahead
Stablecoins are playing a foundational role in the digital economy, and the networks that stablecoins move on will be crucial to the broader blockchain infrastructure. The BNB Chain has 12 million active addresses with USDT, which speaks to two things: the chain’s operational efficiency and its market position.
TRON, Arbitrum, Polygon, and Celo are also making amazing progress. Competition among the networks for stablecoin activity is bound to intensify. In the end, the winners are going to be those platforms that offer their users the trifecta of speed, affordability, and security—characteristics that the leading chains in today’s crypto landscape all seem to have.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
