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1. News-Style (#CoinDesk /Bloomberg tone)
#BSC Leads Retail Stablecoin Market as Ethereum Narrows the Gap
Binance Smart Chain (BSC) has established itself as the dominant network for retail stablecoin activity, accounting for nearly 40% of the market, according to a recent report. Transaction counts on BSC surged 75% this year, while transfer volumes rose 67%. Much of this growth followed Binance’s March delisting of $USDT for European users and renewed memecoin trading on PancakeSwap.
Ethereum and its layer-2 networks together made up more than 20% of stablecoin transfer volume and 31% of transactions. While smaller transfers typically occur on L2s, the Ethereum mainnet saw notable traction in the retail segment. Sub-$250 transactions on the mainnet climbed 81% in volume and 184% in transaction count.
Once primarily used for large-value transfers due to high fees, Ethereum has benefited from a 70% drop in gas costs over the past year, making it increasingly competitive for smaller transactions as well.
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2. Simplified Version (Casual readers)
BSC Takes the Lead in Retail Stablecoin Use, Ethereum Catches Up
Binance Smart Chain (BSC) is now the top choice for retail users in stablecoin activity, grabbing nearly 40% of the market. Activity on the network has surged this year, with transactions up 75% and transfer volume up 67%. A big boost came after Binance stopped offering USDT to European users in March, along with the comeback of memecoin trading on PancakeSwap.
Ethereum, including its layer-2 (L2) solutions, isn’t far behind. It made up over 20% of transfer volume and 31% of transactions. While small transfers usually happen on L2s, Ethereum’s mainnet saw big growth too — sub-$250 transfers jumped 81% in volume and 184% in count.
High gas fees once kept Ethereum for large transactions only, but with fees down more than 70% in the past year, even smaller transfers are becoming affordable on the mainnet.