Key Insights:
- Ethereum leads all Layer 1s in stablecoin issuance for 2025.
- Tokenized gold on Ethereum passes the $4 billion benchmark.
- ETF selling pressure slows as ETH price consolidates.
Ethereum (ETH) added $55.9 billion in stablecoin supply year to date, according to on-chain data shared by market analyst Joseph Young.
The activity occurred in 2024 across major blockchains, led by Ethereum developers and issuers.
This happened as demand for stablecoins and tokenized assets stayed strong and ETF selling pressure showed signs of slowing.
Ethereum (ETH) Leads Stablecoin Growth Among Layer 1 Networks
Ethereum recorded the largest year to date increase in stablecoin supply, adding $55.9 billion in net issuance.
No other Layer 1 network came close to this level. Tron ranked second but with a much smaller increase, while Solana and BNB Chain followed at a distance.
Several networks saw limited growth or small declines during the same period. This growth came while Ethereum already held the largest share of the stablecoin market.
The network controls more than 62% of total stablecoin supply. This shows that new issuance continues to favor Ethereum (ETH) rather than shifting to newer chains.
Stablecoins on Ethereum are widely used for trading, payments, and liquidity management.
Market observers often track stablecoin issuance as a signal of network usage. When supply rises, it usually reflects higher demand for settlement and transfers.
In Ethereum’s case, the scale of issuance suggests sustained activity despite broader market uncertainty.
The ranking also highlights how difficult it has been for rival Layer 1s to reduce Ethereum’s lead.
Other networks continue to compete on fees and speed, but stablecoin issuers appear to prioritize liquidity and integration. Ethereum supports most major stablecoin projects and connects directly with decentralized exchanges and lending platforms.
These factors help explain why issuance remains concentrated on the network.
Tokenized Gold and Real World Assets Expand on Ethereum
In a separate news, Ethereum is also leading growth in tokenized real-worldworld assets. Tokenized gold on the network has now surpassed $4 billion in total value.
This marks a new high and reflects rising interest in blockchain-based exposure to traditional assets.
Beyond gold, Ethereum hosts $12.5 billion in total tokenized assets. This gives the network a 65.66% share of the tokenized asset market.
BNB Chain ranks second with about $2 billion, while Solana and Arbitrum remain below $1 billion each. The gap shows how concentrated this sector remains.
Tokenized assets allow ownership and settlement to move on-chain without physical transfer.
Gold-backed tokens are often used for hedging or diversification. Ethereum’s infrastructure supports compliance features, custody tools, and secondary markets, which are important for issuers.
The growth of tokenized assets aligns closely with stablecoin usage. Both rely on trusted settlement layers and deep liquidity.
Notably, as more assets move on-chain, the Ethereum ETH existing base of users and applications provides an advantage that is difficult to replicate elsewhere.
ETF Selling Pressure Eases as ETH Stabilizes
Selling pressure linked to exchange-traded funds appears to be cooling. As detailed, recent market data shows fewer aggressive selloffs compared to earlier periods.
This has led some analysts to watch for signs of a short-term price bounce in Ethereum.
It is worth noting that price action remains constrained by resistance. Ethereum (ETH) is trading below major daily moving averages, with overhead levels between $3,000 and $3,390.
These zones have rejected several recovery attempts since mid-November.
At the same time, downside momentum has weakened. A drop toward $2,850 earlier this month did not lead to extended selling.
Instead, price action has shifted into a narrow range, suggesting consolidation rather than panic.
Meanwhile, short-term charts show modest improvement. Higher lows have formed, and volatility has declined. Lower volatility often appears before a larger move.
Network activity trends do not directly predict price movement. However, strong stablecoin issuance and growing tokenized assets suggest continued use of Ethereum’s infrastructure.
Future direction will depend on broader market conditions and investor response ahead.