Pine & Saguaro Research

Stablecoins — Adoption

Market data as of October 23, 2026; adoption update October 26, 2026.

Cover of the Stablecoins Adoption report from Pine & Saguaro.
October 26, 2026Digital assetsLive

The evidence supports growing utility for dollar-denominated blockchain money. Ethereum leads in balances; Tron leads the payment-value sample. Neither fact proves that its native token captures most of the profits.

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