The supply of stablecoins on the Ethereum chain reached a historical high of $166 billion, solidifying its position as the settlement infrastructure for DeFi

ChainCatcher message, the total supply of stablecoins on the Ethereum chain has risen to a historic high of $166 billion, up from $149 billion a month ago, solidifying its position as the settlement infrastructure for DeFi. Among them, the supply of USDT on the Ethereum chain is $87.8 billion, and USDC is $48 billion.

The Chief Investment Officer of Kronos Research stated, "The historic high in Ethereum's stablecoin supply marks its transition from a speculative asset to a pillar of dollarization in the DeFi ecosystem, which also indicates that Ethereum's liquidity is now strong enough to absorb market volatility and support the market during macroeconomic downturns."