Ethereum Stablecoin Supply Hits Record $162 Billion

• Ethereum Stablecoin Supply Reaches New All-Time High
• DeFi accumulates US$81 billion in locked value
• Analysts reignite debate over Ethereum overtaking Bitcoin

The total supply of stablecoins on the Ethereum blockchain has reached a new all-time high of $162,3 billion, according to recent data from DeFiLlama The milestone reflects the continued growth of the decentralized finance (DeFi) ecosystem and the strengthening of investor confidence in the network, which is consolidating itself as the main infrastructure for digital assets and tokenization.

Since July, the volume of stablecoins issued on Ethereum has increased by approximately $32 billion, rising from $130 billion to the current record. This growth coincides with the expansion of the total value locked (TVL) in DeFi protocols, which jumped from $60 billion to $81 billion, demonstrating a significant increase in activity and liquidity in the sector.

Decentralized exchanges (DEXs) also maintained strong performance, recording monthly volumes above $80 billion for three consecutive months. This movement reinforces traders' and developers' preference for Ethereum as the basis for decentralized finance applications and tokenized assets.

The growth of stablecoins on the network is considered one of the key indicators of ecosystem health, as it indicates increased capital circulation, corporate adoption, and integration between protocols. Furthermore, the growth of tokenization of real assets—such as securities and commodities—has strengthened Ethereum's role as infrastructure for the next generation of digital finance.

The recent performance has reignited the debate over whether Ethereum could eventually surpass Bitcoin in market cap, a phenomenon known as flippening. Tom Lee, head of research at BitMine, compared the current moment to the transition of gold reserves to stock markets after 1971. “Ethereum could flip Bitcoin in a similar way to how Wall Street and stocks flipped gold after 1971,” he said during an interview with ARK Invest CEO Cathie Wood.

Bitcoin currently has a market capitalization of $2,07 trillion, while Ethereum has a market capitalization of $445 billion. According to analysts, growing institutional adoption and the advancement of tokenization could be key factors in Ethereum expanding its market share and solidifying its leadership in decentralized finance applications.