Ethereum has reached a new milestone: its stablecoin supply has reached $132.4 billion, the highest it has been in nearly three years.
This figure accounts for 58% of the global stablecoin market, highlighting Ethereum’s key role in powering digital dollar transactions across the crypto space.
Rapid Growth in a Short Time
In the past 24 hours alone, Ethereum-based stablecoins added $321 million. Over the past week, that number jumped to $1.4 billion, and over the last month, it rose by nearly $2.8 billion. These steady increases reflect growing demand for stablecoins on Ethereum, especially as the crypto market regains momentum in 2025.
The global stablecoin market has now surpassed $200 billion in total supply. Tether (USDT) leads the sector with $142 billion, followed by USD Coin (USDC) at $49 billion. Other blockchains, such as Tron and Binance Smart Chain, follow behind Ethereum with 31% and 3% of the market share respectively.
Why Stablecoins Matter
Stablecoins are digital assets designed to keep a steady value, often pegged to fiat currencies like the US dollar. They are widely used for trading, transferring value across borders, and accessing decentralized finance (DeFi) platforms.
Their reliability and speed make them attractive to users looking for a stable alternative to volatile cryptocurrencies.