The total supply of stablecoins on Ethereum has surged to an unprecedented $166 billion, highlighting the network’s expanding role as a foundational infrastructure for decentralized finance (DeFi).
This marks a significant increase from $149.5 billion just one month ago, reflecting accelerating adoption and liquidity within the ecosystem.
Tether (USDT) continues to dominate with $87.8 billion in supply on Ethereum, while USD Coin (USDC) follows with $48 billion. The milestone has drawn attention from industry experts, who see it as evidence of Ethereum’s maturation from a speculative platform to a core settlement layer for digital dollars.
Vincent Liu, CIO of Kronos Research, noted that this achievement underscores Ethereum’s capacity to absorb market volatility and support broader financial activity. Nick Ruck, Director of LVRG Research, added that the growth—driven largely by USDT and USDC—points to heightened institutional participation and may foreshadow increased DeFi usage and potential ETH price appreciation.
