Ethereum Hits Historic Milestone with $165 Billion in Stablecoins

• Ethereum has hit a historic mark with stablecoins and has exceeded $165 billion in supply, dominating 57% of the market.
• Despite its weak 27% share, Ethereum has taken a lead in the stablecoin market, thus beating its competitors by a large margin.
• The boom of tokenized assets, such as gold and US Treasuries, has significantly contributed to Ethereum gaining 200 percent in the price since April 2024.

Ethereum has reached a historic milestone, recording a record supply of stablecoins. The network has resulted in an addition of about $5 billion in new stablecoins in the past week. This influx increased the overall stablecoin market of Ethereum to a reach of 165 billion, a milestone. According to RWA.xyz data, the supply of Ethereum-based stablecoins has put claims above 57% as of January 2024 since the start of the year.