Chain Stablecoin MCap

Which chains are gaining or losing stablecoin market cap? Filtered to chains with TVL > $150M. Hyperliquid L1 leads with +22.7% growth, driven by on-chain perpetuals activity. Avalanche surged +15.8%, while Katana (-49%) and Provenance (-19%) saw heavy outflows. Ethereum, despite holding ~$164B in stablecoin mcap, slipped -0.9% — a sign of rotation to higher-yield or faster-settlement chains.