The total supply of stablecoins issued on the Ethereum network has reached a new all-time high, surpassing $180 billion, according to data shared by Cointelegraph.
This milestone highlights Ethereum’s growing dominance as the leading blockchain for stablecoin activity, accounting for the vast majority of circulating supply across all networks.
The chart shows that Ethereum’s stablecoin supply has surged by roughly $60 billion since its previous peak in February 2022.
🔥 ​​UPDATE: The stablecoin supply on Ethereum hits over $180B, marking a new all-time high. pic.twitter.com/cbEzzEkjiB
— Cointelegraph (@Cointelegraph) October 17, 2025
This increase reflects both renewed on-chain demand and capital returning to decentralized finance (DeFi) protocols following months of market recovery and yield optimization trends.
Stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar, continue to play a crucial role in liquidity management, trading, and decentralized applications.
Ethereum’s ecosystem benefits directly from this expansion, as higher stablecoin circulation often translates into increased transaction activity and gas fee generation.
With this record supply level, Ethereum reaffirms its status as the financial backbone of the crypto economy, outpacing competitors in stablecoin settlement and DeFi integration.
