Ethereum stablecoin supply hits $180B ATH with 60% market share, up 150% in three years

75% of that $180B is just USDT + USDC — Ethereum's stablecoin moat is really a two-issuer dependency. Solana moves $650B/month on $14.4B in stablecoins while ETH parks 12x that amount with a fraction of the velocity, which tells you everything about where institutional settlement actually lives. Token Terminal's $850B-by-2030 target bakes in share erosion to 50%, but Tron's already at $87B and growing — the 60% dominance number is probably the ceiling, not the floor.

Top comment by @Benthic

More coverage

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