Ether Leads Stablecoin Supply With $1.1B Growth in 24 Hours
- Ether saw $1.1 billion in stablecoin inflows within 24 hours, boosting on-chain liquidity.
- Monthly stablecoin volume hit $2.82 trillion, marking a 45% rise from September levels.
- USDT and USDC accounted for over 90% of Ethereum’s stablecoin supply amid market caution.
Ethereum recorded a major surge in stablecoin activity within the last 24 hours, as over $1.1 billion moved on-chain. The inflows, recorded on November 6, show Ethereum’s growing role in digital finance as traders, institutions, and DeFi users increasingly turn to the network for liquidity and stability.
Stablecoin Surge Shows Ethereum’s Liquidity Grip
The surge shows that more people are choosing Ethereum for quick and secure transactions. In October, total stablecoin transactions hit $2.82 trillion, rising from $1.94 trillion in September.
This 45% jump set a new record and strengthened Ethereum’s position as the leader in decentralized trading and transfers. The main forces behind this growth are still USDT and USDC. Together, they account for over 90% of the stablecoin supply on Ethereum.
Analysts attribute the sharp rise to a defensive market stance, as investors move funds into stablecoins following recent volatility linked to former President Donald Trump’s 100% tariff on China. The change toward stablecoins shows traders seeking safety before reentering risk assets once market conditions stabilize.
Dencun Upgrade Boosts DeFi and Stablecoin Demand
The Ethereum Dencun upgrade has helped keep the network growing by cutting transaction costs and making it faster and more scalable. This has made popular DeFi platforms like Aave, Uniswap, and Curve work more smoothly.
Because of these upgrades, more users and funds have flowed into Ethereum’s DeFi space. Today, Ethereum holds around 58% of all stablecoin value worldwide, keeping it far ahead of rivals like Solana and Tron.
Even though those other networks are growing, Ethereum’s deep liquidity and strong community of developers continue to give it the edge. This technical advantage has made the network a consistent choice for institutions and retail users alike.
Related: Stablecoin Market Soars to $311B as USDT and USDC Lead
Traditional Finance Deepens Stablecoin Integration
The fast expansion of stablecoins has also drawn traditional finance deeper into blockchain infrastructure. The GENIUS Act in the U.S., along with Europe’s MiCA rules and Hong Kong’s Stablecoin Ordinance, has made crypto regulations clearer, giving companies more confidence to operate.
JPMorgan has already handled over $1.5 trillion in stablecoin transactions, while Stripe made headlines by buying Bridge for $1.1 billion, the biggest crypto deal ever by a payments company.
Visa and Mastercard are now using stablecoins in their payment systems, choosing to partner rather than compete. Cloudflare also joined the space with its NET Dollar project, which focuses on AI-driven micropayments.
The top stablecoins, USDT and USDC, are still at the center of this growing system. Tether, which issues USDT, now holds $127 billion in U.S. Treasury bonds, making it one of the largest buyers of U.S. government debt.
Circle’s USDC has grown 78% year-over-year, supported by a $1.1 billion IPO and new institutional banking partnerships. Combined, the two issuers now control over $150 billion in U.S. Treasury securities, making them collectively the seventeenth-largest holder of American debt.
Their growing integration with banks and payment processors has turned stablecoins into core instruments for cross-border settlements and digital commerce. Most of this activity still happens on Ethereum, showing the blockchain’s role in connecting traditional and decentralized finance.
Ethereum’s native token, ETH, however, has not resembled this momentum. Its price fell to $3,359 during the same period, while the Crypto Fear & Greed Index dropped to 21, indicating extreme investor caution. Yet the steady inflows into stablecoins indicate that liquidity remains in the ecosystem, ready to move once broader market sentiment improves.
Ethereum’s expanding stablecoin base, rising institutional involvement, and recent technical upgrades together show a key transition in global finance. With $1.1 billion in inflows in a single day, the network’s role in stablecoin movement shows its resilience and unmatched dominance across decentralized and institutional markets.
