Ethereum’s stablecoin supply soared to an all-time high of $140 billion in July 2024, establishing a historic peak for dollar-backed assets on the network.
This milestone represents nearly double the supply recorded in January 2024, reflecting explosive demand within decentralized finance ecosystems and broader cryptocurrency transactions.
Analysts highlight the unprecedented growth as evidence of stablecoins’ foundational role in facilitating liquidity across DeFi platforms and crypto markets.
The accelerating expansion of on-chain dollar liquidity is being closely tracked by financial institutions as a critical indicator of blockchain’s evolving integration into global payment infrastructure.