The Base stablecoin transaction volume dwarfs all other chains.

The Coinbase-developed Ethereum Layer-2 network Base was a blockchain every time the stablecoin volume hit a new all-time-high transaction count that day.

On October 26, showing a record market share of stablecoin volume, Base all stablecoin volume accounted for 30.06%, beating other chains, including Solana, Ethereum, and Tron, to get the number one position, according to data from the Artemis terminal, mentioned. By Peter Schroeder on October 27 to X.

Following Base in a stable coin in one day, Solana, accounted for 25%, Ethereum came third with 20%, and Tron came fourth with 16.7%.

In an Oct. 27 post for X, Circle CEO Jeremy Allaire weighed in on Base's short dominance and said that if this trend continues, USD Coin (USDC) will reach an “annual run rate” of $6.6 trillion in Base alone.

USDC accounted for 62% of all stablecoins on October 26, while Tether (USDT) stood at 30%. Algorithm stablecoin DAI (DAI) ranked third, accounting for 7.4% of the total daily volume.

The increase in stablecoin volume market share comes amid a consistent improvement in network activity on Base.

As of Oct. 26, Bethesda hit a record 5.6 million daily transactions, a 20% increase over the previous month, according to Dune Analytics data.

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Historically, Solana has been the dominant network for stablecoin transactions until mid-June of this year.

Overall, Solana is the year-to-date leader, witnessing more than $8.6 trillion in stablecoin volume, ahead of Ethereum's $6.1 trillion.

As Solana, Ethereum and Tron outpace Base this year, the layer-2 network is gaining ground this month, with Base slightly outpacing Solana in volume.

At the time of publication, Base's stablecoin volume market share stands at 20.8% compared to Solana's 20.6%. Ethereum leads the month with 25.6 percent.

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