The total supply of stablecoins on the Ethereum network has reached an all-time high of $166 billion, further cementing the network’s role as a core settlement infrastructure in the decentralized finance (DeFi) ecosystem.
Ethereum Stablecoin Supply Reaches Record Level at $166 Billion
The stablecoin supply on Ethereum reached a record high, rising from $149.5 billion a month ago. USDT, the market’s most dominant stablecoin, holds the largest share at $87.8 billion, followed by USDC with $48 billion.
“This record Ethereum stablecoin supply represents a shift from a speculative asset to the backbone of dollarization in the DeFi ecosystem. It also demonstrates that liquidity is now strong enough to absorb macroeconomic volatility,” said Vincent Liu, CIO of Kronos Research.
Similarly, LVRG Research Director Nick Ruck emphasized that this record level signifies “a large increase in institutional liquidity and deepening confidence in Ethereum’s infrastructure.”
Ruck stated that the growth is particularly driven by the expansion of USDT and USDC, which could trigger accelerated institutional adoption and an increase in DeFi activities, while the ETH price could also rise to meet ecosystem demand.
Meanwhile, USDT’s total market capitalization surpassed $170 billion over the weekend, reaching $170.3 billion. This development solidified the growing importance of the stablecoin market and Ethereum’s position in DeFi.
*This is not investment advice.