The Ethereum stablecoin supply has reached a record $180 billion, according to Token Terminal. The data shows that the Ethereum network still leads the market for stablecoin supply and onchain dollar liquidity.
Token Terminal said Ethereum now holds 60% of stablecoin supply. The firm also said that supply on Ethereum has grown 150% over the past three years.
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At the same time, it projected that about $1.7 trillion could move onchain across all networks over the next four years. If that happens, Ethereum could attract $850 billion in new flows by 2030.
The report adds to a broader trend in tokenized assets and blockchain based finance. It also comes as major institutions keep building products on the Ethereum network.
Ethereum stablecoin supply keeps Ethereum ahead
The record Ethereum stablecoin supply shows how strongly the network still leads the sector. According to Token Terminal, the value of Ethereum stablecoins has climbed to $180 billion, which is the highest level recorded so far.
That total gives Ethereum around 60% of the stablecoin supply market. In addition, Token Terminal said the figure has increased 150% in three years. This means more dollar linked assets continue to move onto the Ethereum network.
Another source, RWA.xyz, reported a slightly lower figure. It placed stablecoin value on Ethereum at $168 billion. Even so, the direction stays the same. RWA.xyz also showed Ethereum with a 56% market share in stablecoins.
That lead becomes larger when Ethereum linked ecosystems are included. According to RWA.xyz, Ethereum’s market share rises to more than 65% when EVM and layer 2 networks such as Arbitrum, ZKsync Era, and Base are counted.
So while the exact number changes by source, both datasets show the same result. Ethereum stablecoins remain the largest pool of onchain dollar liquidity.
Token Terminal sees more stablecoin supply and tokenized assets moving onchain
Token Terminal said about $1.7 trillion may come onchain across all networks over the next four years. Based on that trend, the firm said the Ethereum network could see $850 billion in new flows by 2030 if it grows 470% during that period.
The forecast connects with a separate estimate from Standard Chartered. In late 2025, the bank said more than $1 trillion could move out of banks and into stablecoins by 2028. That projection points to wider growth in stablecoin supply across the market.
At the same time, Ethereum remains a major base layer for tokenized assets. Major firms such as BlackRock, JPMorgan, and Amundi have launched tokenized funds on the Ethereum network. That matters because stablecoins often work as the settlement layer for these products.
The total stablecoin market has also grown. Across all networks, stablecoin supply reached a record $315 billion in the first quarter. Therefore, Ethereum’s rise is part of a much larger increase in onchain financial activity.
JPMorgan Ethereum activity adds to the tokenized assets trend
The institutional side of this shift became clearer this week. In his annual shareholder letter released on Tuesday, JPMorgan CEO Jamie Dimon said,
“A whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts, and other forms of tokenization.”
That comment matters because JPMorgan Ethereum activity is already live. In December, the bank launched its first tokenized money market fund, MONY, on Ethereum. As a result, one of the world’s largest banks is already using the network for tokenized finance.
The statement also shows that blockchain based finance is drawing attention from traditional institutions. While crypto firms helped build the early market, large banks are now entering the same space through tokenized assets and stablecoin related products.
Ethereum infrastructure startup Etherealize also reacted to the development on Tuesday. The company said,
“The world’s largest bank is live on Ethereum, and its CEO is publicly saying they’re still not moving fast enough.”
That response followed the latest JPMorgan Ethereum expansion and added to the broader discussion around Ethereum’s role in onchain finance.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: April 8, 2026 • 🕓 Last updated: April 8, 2026
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