The total supply of stablecoins on the Ethereum network has reached a new all-time high of $166 billion, as noted by The Block on Monday.
This represents a significant increase from $149.5 billion just a month ago, indicating solid growth and increased liquidity.
Tether (USDT) continues to lead with a supply of $87.8 billion on Ethereum, followed by USD Coin (USDC) with $48 billion.
Analysts view this milestone as a key indicator of the evolution of Ethereum, which has gone from being a platform for speculative assets to becoming the fundamental infrastructure of a dollarized digital economy, capable of absorbing market volatility and supporting activity on an institutional scale.