Ethereum On-chain Stablecoin Supply Reaches $166 Billion All-Time High, Cementing Its Position as the DeFi Settlement Infrastructure Leader

BlockBeats News, September 15th, the total stablecoin supply on the Ethereum blockchain has reached a record high of $166 billion, up from $149 billion a month ago, consolidating its position as the settlement infrastructure for DeFi. Among them, the supply of USDT on the Ethereum blockchain is $87.8 billion, and USDC is $48 billion.

The Chief Investment Officer of Kronos Research stated, "The record high Ethereum stablecoin supply indicates its transition from a speculative asset to the anchor of dollarization in the DeFi ecosystem. This also indicates that Ethereum's liquidity is now strong enough to absorb market fluctuations and support the market during times of macroeconomic downturn."