The total value of stablecoins on the Ethereum blockchain has hit a record $180 billion, securing its dominant market position. Blockchain analytics firm Token Terminal reported this milestone, projecting that the network could attract $850 billion in new capital by 2030. This growth is supported by major financial institutions launching tokenized products, with JPMorgan’s CEO highlighting the competitive shift toward blockchain technologies.
The onchain value of stablecoins on the Ethereum network has reached an all-time high of $180 billion, according to blockchain analytics firm Token Terminal. Ethereum holds 60% of the stablecoin supply, which has grown 150% over the past three years.
The company projected that around $1.7 trillion is expected to come onchain across all networks over the next four years. It stated Ethereum could see $850 billion in “new flows” by 2030 if it grows 470% in that time.
Real-world asset metrics provider RWA.xyz reports a slightly lower figure of $168 billion in stablecoin value on Ethereum. It confirms the network is the industry leader with a 56% market share, increasing to over 65% when including EVM and layer-2 networks.
The data highlights Ethereum’s dominance in stablecoins and onchain liquidity. “This momentum strongly supports a sustained long-term bull cycle driven by tokenized assets and institutional adoption, though competition from rival chains, regulatory hurdles, and macro volatility remain key roadblocks to further upside,” Nick Ruck, director of LVRG Research, stated.
JPMorgan CEO Jamie Dimon acknowledged that a “whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts, and other forms of tokenization,” in an annual shareholder letter. The Wall Street bank launched its first tokenized money market fund on Ethereum in December.
“The world’s largest bank is live on Ethereum, and its CEO is publicly saying they’re still not moving fast enough,” stated Ethereum infrastructure startup Etherealize. Major financial institutions including BlackRock and Amundi have also launched tokenized funds on the network.
