Ethereum made history in the recent week as its supply in stablecoins topped $165 billion after inflows amounting to $5 billion. The network added nearly $1 billion in stablecoins daily, remaining the top blockchain for asset tokenization.
Token Terminal data confirmed Ethereum’s store of stablecoins was up by more than twice since the month of January 2024, a new record. RWA.xyz cited the figure a bit lower at $158.5 billion, but confirmed Ethereum’s 57 percent market share Supremacy over the competition.
Tron was still the second best host of stablecoins, as it had close to 27% market share, and Solana had less than 4%. The predominance mirrors Ethereum’s strength in capturing issuers looking to have liquid and secure dollar-backed assets that are usable on decentralized finance platforms.
Ethereum development remains on a tear as the tokenized supply of the precious metal gold hits an all-time high of nearly $2.4 billion. The total doubles during the year and demonstrates investors’ ever-increasing preference for settlement on a blockchain in a form that is secure for real-world goods and store-of-value assets.
Neutral Governance Strengthens Ethereum Developer Adoption
RWA.xyz said Ethereum accounts for 77% of tokenised commodities, as much as nearly 97% including the Polygon layer-two network. The network also has more than 70 percent market share in tokenised US Treasurys, and it is the second-largest sector in the world, after private credit.
Ether’s price surged over 200 percent since April, reaching close to $5,000 in late August as institutional demand continues to gain speed. Treasury companies have accumulated nearly 4 percent of the circulating supply of Ether in a period of just five months, showing ever greater confidence in decentralized settlement rails.
Fidelity Investments has now rolled out a tokenized US Treasury fund on Ethereum and accumulated $203.6 million in on-chain assets since September. Further, worldwide asset managers are set to tokenize funds shortly, and it is an early milestone on the path to broad-scale institutional adoption.
Ethereum continues to benefit from a fair system, attracting builders who desire open and easy tools in creating new finance. With increasing Treasurys adoption, gold, and stablecoins, Ethereum remains the pioneer network driving tokenization in the entire digital assets ecosystem.
