CMC News

$ETH Stablecoin Supply Hits Record $166B Milestone

#Ethereum's stablecoin ecosystem reached unprecedented heights over the weekend, with total supply climbing to $166 billion. The milestone represents a significant jump from $149.5 billion recorded just one month earlier.

$USDT maintains its dominant position with $87.8 billion in supply on the #Ethereum network. $USDC follows as the second-largest stablecoin with $48 billion in circulation on the platform.

Vincent Liu from Kronos Research emphasized that this achievement marks a transformational shift for the network. The growth signals Ethereum's evolution from a speculative platform to essential DeFi infrastructure supporting global dollarization efforts.

Market analysts view the record figures as evidence of strengthening institutional confidence in #DeFi protocols. Nick Ruck from LVRG Research highlighted how the expansion reflects deepening trust in Ethereum's foundational capabilities.

The surge stems primarily from increased adoption of $USDC and $USDT among institutional players. This institutional influx could potentially drive higher #ETH prices as ecosystem demand accelerates.

Meanwhile, $USDT's overall market capitalization exceeded $170 billion during weekend trading. The stablecoin reached $170.3 billion by early Monday morning, according to market data.

Industry experts suggest this liquidity growth provides crucial support during market volatility periods. The robust stablecoin foundation enables better #DeFi activity absorption during macroeconomic downturns.