Ethereum’s Stablecoin Dominance Grows with $5B Weekly Inflow, Supply Hits $165B Record

Ethereum’s stablecoin supply reached a record $165 billion after adding approximately $5 billion in new tokens over the past week, despite declining network ￰1￱ Terminal data shows Ethereum added roughly $1 billion in stablecoins per weekday, while DeFiLlama shows $153.4 billion in total market capitalization with USDT commanding 48.97% ￰2￱ growth occurs as centralized exchange stablecoin reserves hit $68 billion ￰3￱ stablecoin supply on @ethereum reaches $165 billion, marking an all-time ￰4￱ added ~$5 billion in new stablecoins over the past week, i. e. ~$1 billion per ￰5￱ — Token Terminal (@tokenterminal) September 7, 2025 Revenue Decline Amid Stablecoin Growth Ethereum’s on-chain revenue dropped 44% month-over-month to $14.1 million in August, down from $25.6 million in July, despite ETH reaching record highs of $4,957.

Network fees fell 20% to $39.7 million as the Dencun upgrade reduced layer-2 transaction ￰6￱ upgrade enhanced scalability but significantly reduced layer-1 fee ￰7￱ warn that low fee revenue undermines platform viability, while supporters argue that Ethereum is evolving into a decentralized finance ￰8￱ attention continues growing despite revenue ￰9￱ raised $40 million in September to promote Ethereum adoption among public companies, building infrastructure for private trading and settlement of tokenized assets, including bonds and fixed income products. Co-founder Joseph Lubin predicts ETH could rally 100x as Wall Street shifts toward decentralized ￰10￱ believes Ethereum will replace siloed institutional systems and become the backbone for financial services, staking, and smart contract execution.

Fundstrat’s Tom Lee targets $5,500 near-term with ambitious $12,000 year-end ￰11￱ disclosed that institutional sentiment shifted dramatically following the GENIUS Act’s passage, recognizing Ethereum as foundational blockchain infrastructure supporting over $145 billion in stablecoin ￰12￱ Market Explosion Drives Infrastructure Demand Global stablecoin transaction volume reached a record $2.5 trillion according to Bridge platform ￰13￱ reports show USDT processed over $1 trillion monthly between June 2024 and June 2025, peaking at $1.14 trillion in ￰14￱ ranged from $1.24 to $3.29 trillion monthly, with particularly high October ￰15￱ stablecoins experienced rapid expansion with EURC growing 89% month-over-month on average, rising from $47 million to $7.5 billion by June ￰16￱ sustained acceleration from $783 million to $3.95 billion during the same ￰17￱ growth indicates shifting usage patterns with USDC linking to ￰18￱ rails while USDT dominates emerging markets as digital cash. @Tether_to , the company behind the world’s largest stablecoin USDT, is exploring deeper exposure to gold by investing directly across the metal’s global supply chain. #Tether #Gold ￰0￱ — ￰19￱ (@cryptonews) September 5, 2025 As a result, Tether is exploring deeper gold exposure by investing across mining, refining, trading, and royalty finance ￰20￱ company holds $8.7 billion in gold reserves while considering physical investments on larger scales beyond its $900 million XAUt ￰21￱ Paolo Ardoino calls gold “ our source of nature ,” with Tether acquiring $105 million in Elemental Altus, followed by an additional $100 million ￰22￱ Consolidation and Infrastructure Competition Binance dominates stablecoin reserves with $44.2 billion, representing 67% of all USDT and USDC holdings across exchanges.) September 5, 2025 The payments-focused Layer 1 features fiat-denominated fees and supports any stablecoin for gas payments through enshrined automated market ￰23￱ partners include Visa, Deutsche Bank, Standard Chartered, Anthropic, OpenAI, DoorDash, and ￰24￱ diverse coalition ensures broad payment use case coverage from microtransactions to enterprise payroll ￰25￱ blockchain completes Stripe’s crypto infrastructure following Bridge’s $1.1 billion acquisition and Privy ￰26￱ enables direct transaction processing revenue capture rather than external network fee payments while leveraging extensive merchant ￰27￱ the stablecoin market is growing fast, treasury projections suggest stablecoin markets could exceed $2 trillion by 2028.