Ethereum’s dominance in the stablecoin market has reached new heights this week. According to Token Terminal, the total supply of stablecoins on the Ethereum network hit $184.1 billion, marking a new record and signaling a strong shift in liquidity toward the platform.
Billions Flow Back Into Ethereum
Fresh data from Artemis confirms that Ethereum has absorbed more than $3.5 billion in stablecoin inflows over the past 72 hours, far surpassing all other blockchains combined. This surge comes as traders and institutions rotate capital away from smaller networks and back into Ethereum’s deep liquidity pools, likely positioning ahead of upcoming DeFi cycle catalysts.
The Top Stablecoin Supply Changes (Last 24 Hours) chart shows Ethereum leading by a wide margin, while networks such as Solana, Tron, and Avalanche registered minor outflows. Analysts suggest this movement underscores Ethereum’s renewed role as the primary settlement layer for large-scale stablecoin activity.
Ethereum Reclaims Its Liquidity Crown
Stablecoins remain the backbone of on-chain finance, serving as the main liquidity rail for trading, lending, and yield strategies. Ethereum’s record $184B supply reinforces its unmatched infrastructure for handling these flows, supported by scalability upgrades, Layer-2 integrations, and institutional adoption of tokenized assets.
The sustained growth in stablecoin reserves also reflects rising investor confidence in Ethereum’s ability to anchor the next phase of crypto market expansion, bridging traditional capital with decentralized liquidity.