Catenaa, Thursday, September 17, 2025– Ethereum’s stablecoin supply reached a record $166 billion as of Saturday, up from $149 billion a month ago, cementing the network’s role as a DeFi settlement base. USDT leads with $87.8 billion, followed by USDC at $48 billion.
Analysts say the milestone signals Ethereum’s transition from a speculative platform to a dollar-denominated backbone for decentralized finance.
Vincent Liu, CIO of Kronos Research, noted that the liquidity is now sufficient to absorb market volatility and support DeFi activity during macroeconomic downturns.
Nick Ruck, director at LVRG Research, added that institutional adoption is accelerating, with Ethereum’s infrastructure increasingly trusted as the foundational layer for DeFi.
He highlighted that USDT and USDC expansion could boost Ethereum-based DeFi activity and potentially drive ETH price appreciation.
Tether’s market capitalization surpassed $170 billion over the weekend, standing at $170.3 billion as of early Monday, reflecting growing confidence in dollar-pegged stablecoins.
The surge underscores Ethereum’s expanding role in global decentralized finance, providing deep liquidity and infrastructure for institutional and retail actors alike.
