The Ethereum network has become the backbone of stablecoin innovation, with its total stablecoin supply reaching $132.4 billion in May 2025 as institutional adoption accelerates. This growth comes amid a broader cryptocurrency market recovery that pushed the global stablecoin market cap to $220 billion, with Ethereum processing over $1.2 trillion in stablecoin transactions during April alone.
Analysts attribute this surge to three key factors: clearer regulatory guidelines, improved blockchain infrastructure, and strategic moves by traditional finance giants. The network now hosts 62% of all stablecoin value across blockchain ecosystems, cementing its position as the preferred settlement layer for digital dollars.
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