COINOTAG News reported on August 31 that data from Token Terminal shows the on-chain supply of stablecoins on the Ethereum network has surpassed $160 billion, establishing a new all-time high. The dataset indicates this represents a roughly two-fold increase in stablecoin supply since January 2024, underscoring sizeable inflows of fiat-pegged assets onto Ethereum’s ledger.
This expansion in stablecoin supply materially increases available on-chain liquidity, which is a key input for trading, settlement and decentralized finance metrics. Market participants, liquidity providers and risk managers will likely incorporate the updated supply figures into pricing models, treasury operations and liquidity risk assessments.