Ethereum stablecoin supply has reached an all-time high of $180 billion, indicating a strong liquidity recovery despite the recent decline in ETH.
Tether and USDC dominate Ethereum’s $180 billion stablecoin market, reflecting significant investor trust and accumulation.
Ethereum holds 58% of the global stablecoin value, maintaining its lead over Solana and Tron.
After months of steady growth, Ethereum has reached a major milestone. The total supply of stablecoins on the company's network has surged to over $180 billion, its highest level to date. This is a significant 35% increase since the beginning of 2025, clearly indicating that new liquidity and confidence are returning to the market.
Despite this milestone, the price of Ethereum's native token, ETH, fell by 9% to $3,460.
Tether and USDC take the lead
The biggest contributors to this surge are Tether (USDT) and USD Coin (USDC), which together account for over 90% of Ethereum’s stablecoin supply. This surge does not simply mean an influx of capital, but also a signal of defensive accumulation.
Analysts say the surge signals a shift to risk-off as traders seek safety following the recent crypto crash triggered by President Trump's 100% tariffs on China. Major investors are currently putting their money in stablecoins and waiting for more clarity on the global situation.
Most of this movement is happening on Ethereum, which remains the top choice for fast, secure, and borderless transactions across DeFi platforms.
Ethereum leads the stablecoin market
One of the main reasons for this surge is Ethereum's Dencun upgrade, which reduced transaction costs and improved scalability. This upgrade makes DeFi platforms like Aave, Uniswap, and Curve faster and cheaper to use, allowing them to capture more users and liquidity.
Demand for stablecoins has skyrocketed as usage increases, pushing them to new records.
Ethereum currently holds approximately 58% of the global stablecoin value, strengthening its position as the core of cryptocurrency liquidity. While networks like Solana and Tron are growing rapidly, Ethereum continues to stay ahead with stronger liquidity and developer support.
Ethereum price drops 9%
While Ethereum stablecoin supply hit a record high, the price of Ethereum fell 9% to $3,460 after President Donald Trump accused China of “economic sabotage” and announced 100% tariffs starting November 1, 2025.
The Crypto Fear and Greed Index has fallen to 22, indicating extreme fear among investors.
Still, the growing supply of stablecoins suggests traders are sitting on the sidelines, ready to re-enter once conditions improve.
