Ethereum Stablecoins Market Cap Soars to Record $165B — Token Terminal (Sept 8)

COINOTAG News on September 8 reported that, according to Token Terminal data, the total market capitalization of stablecoins on Ethereum reached $165 billion, marking a new all-time high.

The rise in stablecoin market capitalization on Ethereum reflects increased on-chain liquidity, with measurable effects on lending markets, automated market makers and short-term funding dynamics within the DeFi ecosystem.

Institutional desks and protocol risk teams should track composition and flow metrics, since shifts in concentrated stablecoin capital can alter capital efficiency and counterparty risk profiles without implying speculative price direction.

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