The global stablecoin marketcap just hit a new all-time high, with Ethereum enjoying the lion’s share of that growth too. However, what does this mean for the network in terms of liquidity and growth?
The total stablecoin marketcap stood at $205.79 billion, at the time of writing, with most of it in Ethereum. According to DeFiLlama, Ethereum’s stablecoin marketcap amounted to $117.39 billion at press time. In fact, this seemed to be equivalent to 54.32% of the total marketcap.These figures for Ethereum’s stablecoin marketcap marked a new ATH for the network. It surpassed its previous ATH achieved in February 2022, courtesy of the robust stablecoin inflows over the last 2 months.
While the new Ethereum stablecoin marketcap performance has aided in boosting its stablecoin dominance, it also underscores its growing liquidity. This should technically mean more investor confidence and potentially signal budding network growth.
However, Ethereum’s total value locked failed to follow through.#CryptoETFMania $ETH