Analytics show significant growth in stablecoins on Ethereum, while Hyperliquid shows a decrease.
Stablecoin Increase on Ethereum
In the past 7 days, the number of USDT and USDC stablecoins on the Ethereum platform has increased by $1.3 billion. This substantial increase highlights the growing popularity and usage of these digital assets. The analytics firm Lookonchain also reported that Hyperliquid experienced an outflow of $77 million over the same period.
Current Stability of the Stablecoin Market
According to DefiLlama, the total market capitalization of the five largest stablecoins has exceeded $225 billion. This occurred after Treasury Secretary Scott Bessent stated the intention to use digital assets to maintain the dollar as the world’s reserve currency. USDT maintains a market cap of around $140 billion, while USDC is nearing $60 billion.
Stablecoin Regulation in the U.S.
In the U.S., stablecoin legislation is being discussed, and it is expected to be presented to President Donald Trump by August. Senator Bill Hagerty previously introduced a bill that would establish a regulatory regime for dollar-backed digital assets. The GENIUS Act also allows states to regulate such currencies if they comply with federal rules.
The growth of stablecoins on Ethereum indicates a strengthening trend toward the use of these assets. The U.S. is stepping up efforts to create a regulatory framework for stablecoins to support the dollar's stability and develop the digital economy.
