Stablecoin market capitalization of Ethereum increases 1000x since Ethereum first surpassed $1,4k price level.
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======================ETH Stablecoin Market Cap Soars: A Breakdown======================
The Ethereum stablecoin market cap has seen a staggering surge, skyrocketing approximately 1 million-fold since its initial peak of $1,400 in January 2018. As of May 6, it stands at an impressive $124.5 billion, according to data on DeFi Llama. However, it's taken a minor dip of 0.08% or around $100 million in the past week.
Back in January 2018, the stablecoin market cap was a mere $124,500 when ETH hit $1,400 for the first time. Despite this humble start, Ethereum managed to claim its spot as the second-largest cryptocurrency by market cap, just behind Bitcoin.
Tether (USDT) continues to dominate the stablecoin scene on Ethereum, contributing around 52% of the ecosystem's total stablecoin market cap, worth around $64.7 billion. USD Coin (USDC) follows closely with a market cap of $37 billion, while Ethena's USDe, Sky Dollar's USDS, and Dai's DAI make up the next spots, contributing around $4.5 billion, $3.8 billion, and $3.6 billion respectively.
As of now, Ethereum itself has experienced a minor dip of 0.89%, trading at $1,804. Despite this dip, it has seen a significant increase of more than 10.9% in the past two weeks. Ethereum's market cap stands at a robust $216 billion, with a daily trading volume of $9.2 billion, indicating a 4.10% increase in trading volume compared to the previous day, signaling a rise in market activity.
New Co-Executive at Ethereum Foundation discusses Vitalik Buterin's Latest ProposalOn a separate note, Ethereum is gearing up for its next major upgrade this month. This upgrade is set to bring a series of changes aimed at enhancing on-chain scalability, improving user experience, and boosting validator efficiency through EIP-7251's maximum stake adjustment from 32 ETH to 2,048 ETH.
The Power Shift in the Stablecoin MarketTether (USDT) remains the largest stablecoin by market capitalization, with a value over $143 billion. However, its specific share on Ethereum isn't detailed in the latest reports. USD Coin (USDC) emerges as the second-largest stablecoin, with a market cap exceeding $58 billion and is widely used on Ethereum due to its transparency and regulatory compliance.
Dai (DAI), Ethena USDe, and Sky Dollar's USDS are also part of the Ethereum stablecoin landscape. Dai, a decentralized stablecoin issued by MakerDAO, doesn't have a specific market share or cap on Ethereum detailed in the recent reports. Ethena USDe and Sky Dollar's USDS don't appear as significant players in the overall stablecoin market as per the available reports.
Ethereum commands a significant portion of the stablecoin supply, with approximately 53.4% of the total stablecoin market capitalization as of March 2025. However, further details on the specific market shares of each stablecoin on Ethereum are not available in the reports. As of March 2025, the total stablecoin market capitalization was around $230 to $235 billion, though the exact distribution on Ethereum by stablecoin type would require more detailed data.
- The current Ethereum stablecoin market cap is $124.5 billion, a staggering increase from its initial peak of $124,500 in January 2018.
- Tether (USDT) dominates the Ethereum stablecoin scene, contributing around 52% of the ecosystem's total market cap.
- USD Coin (USDC) follows closely with a market cap of $37 billion on Ethereum, making it the second-largest stablecoin.
- Ethereum's current market cap is $216 billion, showing a significant increase of more than 10.9% in the past two weeks.
- Ethereum's technology is currently enhancing finance by paving the way for innovative investing opportunities through Defi and ICOs.
- The upcoming Ethereum upgrade will aim to improve on-chain scalability, user experience, and validator efficiency.
- Crypto investors are currently watching the market closely, with an eye on stablecoins like DAI, Ethena USDe, and Sky Dollar's USDS, as they could potentially shift the power dynamics in the stablecoin market.
