Ethereum stablecoin supply reached a record $165 billion after roughly $5 billion of weekly inflows, solidifying Ethereum’s lead in tokenized real-world assets (RWA) and giving the network a dominant market share for stablecoins and tokenized commodities.
Record stablecoin supply on Ethereum: $165B
Weekly inflows near $5B pushed on-chain stablecoins to new highs across data providers.
Ethereum controls ~57% of stablecoin market share; tokenized gold and US Treasurys also at all-time highs.
Ethereum stablecoin supply hits record $165B after $5B weekly inflows — read how RWA tokenization and institutional products are shaping market share and adoption.
Ethereum stablecoin supply jumped to a fresh all-time high of approximately $165 billion following about $5 billion in inflows over the past week, underscoring Ethereum’s central role in stablecoins and broader RWA tokenization.
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Ethereum added around $5 billion in new stablecoins over the past week, pushing the total supply of stablecoins on the network to an all-time high.
The stablecoin supply on Ethereum has more than doubled since January 2024 and has reached an all-time high of $165 billion, Token Terminal reported on Sunday.
Figures vary slightly depending on the data provider, as RWA.xyz reports a total of $158.5 billion in Ethereum-based stablecoins, which is also an all-time high, giving the network a commanding market share of 57%.
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Ethereum has been the network of choice for stablecoins. Its next closest competitor, Tron, has a market share of 27%, while Solana, in third place, has less than 4%.
What is driving Ethereum’s record stablecoin supply?
Ethereum’s stablecoin supply growth is driven by strong weekly inflows, institutional tokenization activity, and developer-led liquidity integrations. Key drivers include stablecoin issuance, demand for on-chain liquidity, and growing tokenization of real-world assets (RWA) that use stablecoins as settlement rails.
How large is tokenized gold and other RWAs on Ethereum?
Tokenized gold on Ethereum has also reached record levels, with approximately $2.4 billion tokenized on-chain, according to Token Terminal. Tokenized commodities and US Treasurys show similar expansion, with RWA.xyz reporting a 77% market dominance for tokenized commodities on Ethereum and a 70%+ share for tokenized US Treasurys.
Why is RWA tokenization favoring Ethereum?
Ethereum’s ecosystem offers composability, developer liquidity, and broad institutional tooling that make it attractive for tokenizing assets. Market participants cite Ethereum’s neutral infrastructure and extensive smart contract tooling as reasons institutional issuers and asset managers choose the network.
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How has RWA growth affected Ether’s price and treasury behavior?
This RWA narrative contributed to Ether’s price rally of over 200% since April, approaching an all-time high just below $5,000 on Aug. 24. Institutional and corporate treasuries have accumulated Ether, with treasury entities holding nearly 4% of total supply in recent months, further tightening available liquid supply.
Frequently Asked Questions
How much did Ethereum stablecoin supply increase this week?
The network added about $5 billion in stablecoins over the past week, lifting total Ethereum-based stablecoins to roughly $165 billion, per Token Terminal’s figures.
Which data providers report onchain stablecoin and RWA supply?
Key onchain analytics cited here include Token Terminal and RWA.xyz, which report slightly differing totals but agree on the broader trend of rising stablecoin and RWA supply on Ethereum.
What is the Fidelity token mentioned in the report?
Fidelity launched a tokenized US Treasurys product, the Fidelity Digital Interest Token (FDIT), which appears onchain with reported total asset value near $203.6 million, as tracked by RWA.xyz.
Key Takeaways
- Record stablecoin supply: Ethereum stablecoin supply reached ~$165B after $5B weekly inflows.
- RWA momentum: Tokenized gold and US Treasurys on Ethereum are at all-time highs, reinforcing network dominance.
- Institutional adoption: Asset managers and treasuries are tokenizing funds and accumulating Ether, supporting onchain liquidity and demand.
Conclusion
Ethereum’s surge in stablecoin supply and accelerating RWA tokenization demonstrate the network’s central role in bridging traditional finance and onchain markets. Continued institutional launches and broader tokenization trends are likely to sustain demand, reinforcing Ethereum’s market leadership and long-term utility.
Further Questions
Is Ethereum the dominant network for tokenized commodities?
Yes. Data shows Ethereum holds a majority market share for tokenized commodities and an even larger share when layer-2 networks like Polygon are included.
How does tokenization impact onchain liquidity?
Tokenization brings new asset classes and institutional capital onchain, increasing demand for stablecoins and creating deeper liquidity pools for decentralized protocols and custodial services.